Not in fact having the total of capital…Bitboy Defit… so with anything that you’re finding out about please do study the platform do not just assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really 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 of course your capital is at risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row invest in these choices since you believe is the right ones for you and that being said let’s dive directly in [Music] The 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 element that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your money will be imitated 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 also cover is the charges involved really vital you understand 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 buying the selling for you there’s going to be charges included and even some of the no cost sites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 know prior to you really begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission charges are totally free however there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those options that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends totally how you’re investing but that is a charge to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase 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 or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have i expect stuck with whatever cost 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 charge exists what are they in fact giving you in terms of 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 provide me us dollars instead you need to pay their costs now the fantastic aspect of though when you have actually converted your money you do not need to invest it immediately that dollar value can being 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 takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their website won’t definitely restrict you in any way however we need to understand 2 other fees the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Bitboy Defit.
You are provided numerous 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 understand which system to choose, then this may be precisely what you need.