Not really having the total of capital…Bitboy Nft Platform… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you actually get used to the structure of the website and after that when you’re ready to use your own cash 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 investing in real companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they have actually made revenue 14 months in a row purchase these choices because you think is the right ones for you which being stated let’s dive straight 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 becomes part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included actually important you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no fee sites then might not charge you for really buying and selling etfs or funds private 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 type of fees 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 understand prior to you really start buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with charges actually crucial to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling alright so commission charges are totally free nevertheless there are a number of other charges the very first one is withdrawal costs so you can obviously 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 however when you wish to withdraw your cash so you offer your shares you offer your products 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those alternatives that they have a great deal of platforms certainly are complimentary 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 understand depends completely how you’re investing but that is a cost to bear in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is basic they have i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they really providing you in regards to 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 give me us dollars rather you need to pay their costs now the terrific thing about however when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their website won’t definitely limit you in any way however we need to understand 2 other costs the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Bitboy Nft Platform.
You are provided lots of choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to select, then this might be precisely what you require.