Not in fact having the full amount of capital…Bittboy Retro… so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option as well so you in fact get used to the structure of the site and after that 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 purchasing real companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually said they have actually made earnings 14 months in a row purchase these options because you think is the best ones for you and that being stated let’s dive directly 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 aspect that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable 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 suggests with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of options and generally each time 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 remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included truly crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge sites then may not charge you for in fact buying and selling funds or etfs specific products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 understand before you in fact begin buying copy trading or copy portfolios and lastly some finest advice 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 costs actually essential to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling all right so commission fees are free however there are a number of other costs the very first one is withdrawal charges so you can certainly 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 but when you wish to withdraw your cash so you offer your shares you sell 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 of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might state 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 costs someplace and withdrawal costs are simply one of those options that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing however that is a cost to remember the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two open market anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge 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 instead 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 being in your portfolio as money dollars for as long as you like so that suggests 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 fees so that’s really excellent utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Bittboy Retro.
You are provided many choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t understand which system to choose, then this may be precisely what you require.