Not in fact having the full amount of capital…Bitboy Addax… so with anything that you’re discovering 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 option as well so you in fact get utilized to the structure of the site 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 select to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they’ve made revenue 14 months in a row purchase these options because 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 understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests if for instance 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 likewise cover is the charges included really critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge sites then may not charge you for in fact buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges actually important to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling okay so commission charges are totally free however there are a number of other charges the first one is withdrawal fees so you can clearly put cash 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 in the future however when you wish 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 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those options that they have a great deal of platforms undoubtedly are totally 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 once every 6 months you know depends entirely how you’re investing however that is a charge to keep in mind the second cost that i have actually touched upon 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 great that suits me.
a great deal of my stocks are us dollar stocks anyhow 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 fee now when you utilize anybody so if you’re using trading two and two free trade anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they actually 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 offer me us dollars instead you need to pay their fees now the fantastic feature of though when you have actually transformed your cash you do not need to invest it right now 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 purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good using that part of their website won’t certainly limit you in any way however we have to understand 2 other fees the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread cost as i’m going to show you Bitboy Addax.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not know which system to pick, then this may be precisely what you need.