Not in fact having the full amount of capital…Bitboy Academy… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option also so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has actually said they have actually made earnings 14 months in a row invest in these choices because you believe is the best ones for you which being stated let’s dive directly 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 probably.
famous for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can actually state i want to do precisely what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge websites then may not charge you for in fact buying and selling etfs or funds specific products specific stocks.
there’ll be charges on other parts possibly 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 show you the costs with in particular in this video the next would be things to know before you in fact start purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount 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 make certain that i’m just withdrawing when i absolutely require to now you might state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a charge to bear in mind the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact offering you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and state give me us dollars instead you need to pay their costs now the excellent aspect of however when you’ve transformed your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good using that part of their site will not definitely limit you in any way however we have to understand 2 other costs the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy Academy.
You are offered many options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to pick, then this may be exactly what you need.