Not in fact having the total of capital…Bittboy V2… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you actually get utilized 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 danger this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being said let’s dive straight 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 probably.
famous for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really say i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included truly important you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost sites then may not charge you for really buying and selling etfs or funds specific commodities individual 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 costs with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees truly essential to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling okay so commission costs are complimentary nevertheless there are a couple of other costs the very first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those alternatives that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing however that is a charge to keep in mind the second charge that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits 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 good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact giving you in regards to 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 great aspect of though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial 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 really great using that part of their website will not definitely restrict you in any way nevertheless we have to know 2 other charges the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bittboy V2.
You are offered many choices with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this might be exactly what you need.