Not actually having the total of capital…Bitboy Icp… so with anything that you’re learning about please do study the platform do not just presume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you in fact get used 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 danger this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that person has actually said they’ve made revenue 14 months in a row buy these choices due to the fact that you believe is the ideal ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means 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 also cover is the fees included really vital you understand what are the expenses of this now with any platform there will be some expense to certainly these are real business 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 may not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 in fact start buying copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees truly essential to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a couple of other fees 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 automatically converted into us dollars and i’ll cover a little point about that later on however when you wish 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those alternatives that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps 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 second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists 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 state give me us dollars instead you need to pay their fees now the great feature of though when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their website won’t definitely limit you in any way however we need to understand 2 other fees the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bitboy Icp.
You are given 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 don’t understand which system to pick, then this might be precisely what you need.