Not actually having the total of capital…Bittboy Update Firmware… so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the right ones for you which being stated let’s dive directly in [Music] so the important 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 aspect that is probably.
famous for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they purchase they sell 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 money in so we’re going to likewise cover is the fees included actually critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee sites then may not charge you for really buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts possibly 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 reveal you the charges with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with charges actually important to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission charges are free nevertheless there are a number of other charges the first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state alright that’s rather 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 among those alternatives that they have a great deal of platforms obviously are free to do such things has this 5 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 understand depends totally how you’re investing but that is a fee to bear in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually offering 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 state provide me us dollars rather you need to pay their charges now the terrific feature of however when you’ve converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash 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 truly excellent using that part of their website will not certainly restrict you in any way however we have to know 2 other charges the very first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread charge as i’m going to show you Bittboy Update Firmware.
You are given numerous alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this may be precisely what you need.