Not really having the full amount of capital…Bitboy Metaverse… so with anything that you’re learning more about please do study the platform don’t simply presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you actually get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something because that person has actually said they have actually made revenue 14 months in a row buy these options since you believe is the ideal ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually state i want to do precisely what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved really vital you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge sites then may not charge you for really buying and selling etfs or funds specific products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with charges truly important to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling fine so commission costs are complimentary however there are a number of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those options that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you understand depends totally how you’re investing but that is a charge to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say offer me us dollars rather you have to pay their fees now the excellent aspect of however when you have actually transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their website will not certainly restrict you in any way however we need to understand two other costs the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy Metaverse.
You are provided lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to pick, then this may be precisely what you require.