Not actually having the full amount of capital…Bitboy Matic… so with anything that you’re finding out about please do study the platform don’t just presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money 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 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 purchasing genuine companies if you select to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row invest in these options because you think is the right ones for you which being said let’s dive directly in [Music] 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 aspect that is most likely.
famous for it’s the alternative to see what other traders are doing incredible 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 indicates with our cash we can really say i wish 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 sell whatever they do your cash will be mimicked with it so that suggests 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 fees involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 cost websites then may not charge you for really buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts maybe 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 show you the charges with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with charges truly important to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission fees are totally free nevertheless there are a number of other charges the first one is withdrawal fees so you can clearly put money 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 in the future but when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact 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 state offer me us dollars rather you need to pay their costs now the terrific aspect of though when you have actually transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial 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 additional costs so that’s actually great utilizing that part of their site won’t certainly limit you in any way however we have to know two other fees the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Matic.
You are offered many alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this may be precisely what you require.