Not in fact having the full amount of capital…Bitboy Website… so with anything that you’re finding out about please do study the platform do not simply assume 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 cash they give that option too 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 naturally your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that individual has stated they have actually made profit 14 months in a row buy these choices since you think is the best ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes 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 unbelievable we don’t typically 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 money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included really important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge sites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really crucial to comprehend 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 complimentary however there are a number of other fees the very first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say all right that’s quite costly 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 just one of those alternatives that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing however that is a charge to remember the second charge that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two open market anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they in fact offering 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 instead you need to pay their fees now the terrific aspect of though when you have actually transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 charges so that’s actually great utilizing that part of their website won’t definitely limit you in any way nevertheless we have to know two other charges the very first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bitboy Website.
You are offered lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this might be exactly what you require.