Not actually having the total of capital…Bittboy Handheld… so with anything that you’re learning about please do study the platform do not just presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get utilized to the structure of the website 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 threat this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row invest in these choices because you think is the ideal ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit 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 precise portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for example 10 of their financial 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 actually important you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies 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 cost sites then may not charge you for really buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling all right so commission charges are complimentary however there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re 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 on 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 knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state okay 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 someplace and withdrawal charges are simply one of those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a charge to bear in mind the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that fits 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 charge now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they in fact giving you in terms of 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 say provide me us dollars rather you need to pay their costs now the fantastic feature of though when you have actually converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial 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 charges so that’s actually great utilizing that part of their website will not definitely limit you in any way however we have to be aware of 2 other fees the very first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bittboy Handheld.
You are provided numerous choices 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 choose, then this may be precisely what you need.