Not really having the full amount of capital…Bitboy Trading… so with anything that you’re learning more about please do study the platform do not simply presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that option too so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row buy these options due to the fact that you believe 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 element that is probably.
popular for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really important you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are genuine 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 zero cost sites then might not charge you for in fact buying and selling funds or etfs individual products specific 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 kinds of fees 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 actually start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly essential to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling fine so commission costs are complimentary nevertheless there are a number of other costs the first one is withdrawal fees so you can certainly put money 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 in the future but when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling 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 make sure that i’m only withdrawing when i absolutely need to now you may state okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you understand depends completely how you’re investing however that is a cost to remember the 2nd charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they really giving 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 offer me us dollars instead you need to pay their costs now the fantastic aspect of though when you have actually transformed your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good utilizing that part of their website won’t certainly restrict you in any way however we need to be aware of two other fees the first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Trading.
You are provided numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this may be exactly what you need.