Not actually having the total of capital…Bitboy Amp… so with anything that you’re discovering please do study the platform do not just assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you in fact get utilized to the structure of the site and then when you’re ready to use 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 genuine companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row invest in these options due to the fact that you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the important 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 element that is probably.
famous for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and basically each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 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 also cover is the charges included actually vital you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies 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 fee sites then might not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling all right so commission fees are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply one of those alternatives that they have a lot of platforms obviously are free 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 entirely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s fine that fits me.
a great deal 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 two open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering you in regards to 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 instead you have to pay their charges now the fantastic feature of though when you’ve converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we need to know 2 other charges the first being what’s called spread fees okay and i’m going to show you what i imply on now a spread charge as i’m going to show you Bitboy Amp.
You are provided numerous alternatives 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 know which system to pick, then this might be precisely what you require.