Not in fact having the total of capital…Bitboy Investments… so with anything that you’re discovering please do study the platform do not simply assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get utilized to the structure of the website and then when you’re ready to use 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 purchasing real companies if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row buy these options because 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’s part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved actually important you comprehend what are the costs of this now with any platform there will be some cost to obviously 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 no fee websites then might not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 really begin investing in copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with charges actually crucial to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling fine so commission fees are complimentary nevertheless there are a couple of other charges the first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you offer your products 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state okay that’s rather costly 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 simply among those options 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 maybe even once a year once every six months you know depends completely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great 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 great 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 two open market anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really 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 say provide me us dollars rather you have to pay their costs now the fantastic aspect of however when you have actually converted your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their site will not certainly limit you in any way however we have to know 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Investments.
You are offered lots of alternatives 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 understand which system to select, then this might be exactly what you require.