Not in fact having the full amount of capital…Bitboy Nft… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we need 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 due to the fact that you think is the right ones for you which being stated let’s dive straight 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 element that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for instance 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 also cover is the costs included truly crucial you understand 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 purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then may not charge you for really buying and selling funds or etfs private commodities specific 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 reveal 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 finally some best suggestions best practices if you are considering this as a tool whether you begin your journey or your 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 actually buying and selling all right so commission charges are complimentary nevertheless there are a number of other charges the first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want 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 five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of those choices 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 maybe even once a year when every six months you know depends completely how you’re investing but that is a cost to keep in mind the second fee that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that fits 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 good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they actually offering you in regards to 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 state give me us dollars instead you have to pay their costs now the excellent feature of 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 preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their site won’t certainly limit you in any way however we have to understand 2 other fees the very first being what’s called spread costs alright and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Nft.
You are given numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to pick, then this may be precisely what you need.