Not really having the full amount of capital…Bitboy Interview… so with anything that you’re discovering please do study the platform don’t just assume 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 give that choice too so you really get used to the structure of the website and after that when you’re ready to utilize your own cash 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 real business if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something since that individual 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 said let’s dive straight in [Music] so 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 element that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests 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 charges involved actually critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee sites then might not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you really begin purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really crucial to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling alright so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can obviously put money 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 but 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 just withdrawing when i definitely require to now you may state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those options 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 mostly it can be perhaps even once a year as soon as every 6 months you understand depends completely how you’re investing however that is a charge to bear in mind the 2nd fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have i suppose stuck to whatever charge 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 cost exists what are they really 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 say give me us dollars instead you have to pay their costs now the terrific thing about though when you’ve transformed your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their website will not certainly restrict you in any way nevertheless we need to know two other costs the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Interview.
You are provided 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 select, then this might be exactly what you need.