Not really having the total of capital…Bitboy Crypto… so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you in fact get utilized to the structure of the website and then 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 purchasing genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something because that person has stated they have actually made revenue 14 months in a row buy these options since you believe is the right ones for you which being stated let’s dive straight 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.
well-known for it’s the option to see what other traders are doing incredible 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 in fact say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved actually important you understand what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee websites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges 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 purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs actually important to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling all right so commission charges are free however there are a number of other charges the very first one is withdrawal fees so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those options that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the 2nd charge that i’ve 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 fine that suits me.
a lot 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 fee now when you use anybody so if you’re utilizing trading 2 and two free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 say give me us dollars instead you need to pay their fees now the excellent thing about though when you have actually transformed your cash you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great utilizing that part of their website won’t definitely limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Crypto.
You are provided many choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to select, then this might be precisely what you require.