Not actually having the total of capital…Bitboy Crypto Hex… so with anything that you’re learning more about please do study the platform do not simply presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you actually get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row purchase these options due to the fact that you think is the ideal ones for you which being said 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 becomes part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for instance 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 costs included really crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then might not charge you for actually buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 know before you actually start purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with charges truly crucial to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission fees are free however there are a number of other charges the first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you sell 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 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state alright that’s quite expensive 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 just among those alternatives that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends entirely how you’re investing however that is a fee to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they really providing 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 instead you have to pay their fees now the fantastic aspect of though when you have actually transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their site will not certainly limit you in any way however we have to know 2 other fees the first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Bitboy Crypto Hex.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this might be precisely what you require.