Not actually having the total of capital…Bitboy.Io… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that 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 money they consider that choice also so you really get used 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 danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row purchase these choices because you think is the ideal ones for you and that being said let’s dive straight in [Music] 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 aspect that is most likely.
well-known for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can actually say i want to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies 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 likewise cover is the costs involved actually important you understand what are the expenses of this now with any platform there will be some cost to certainly 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 absolutely no fee sites then may not charge you for really buying and selling funds or etfs private commodities specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 understand prior to you in fact start purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling all right so commission fees are free however there are a couple of other costs the very first one is withdrawal fees so you can undoubtedly put cash 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 but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount 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 okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those choices that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a cost to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy 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 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 2 free trade anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact 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 provide me us dollars rather you need to pay their fees now the great feature of however when you’ve transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests 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 additional costs so that’s really great using that part of their website won’t definitely limit you in any way however we need to know 2 other fees the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Bitboy.Io.
You are given many choices 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 know which system to select, then this may be exactly what you need.