Not in fact having the total of capital…Bitboy Exchange… so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you in fact get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something since that individual has actually said they have actually made profit 14 months in a row buy these options because you think is the ideal ones for you and that 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.
popular for it’s the choice to see what other traders are doing amazing 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 state i want to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included really important you understand what are the costs 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 included and even some of the no charge sites then may not charge you for really buying and selling funds or etfs private products 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 sort of charges associated so do your due diligence and i’m going to reveal you the fees 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 guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with costs really crucial to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission fees are free however there are a number of other charges the first one is withdrawal fees so you can certainly 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 in the future but when you wish 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 five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those choices that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a charge to remember the second fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you type 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 in fact giving 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 say provide me us dollars instead you have to pay their charges now the terrific feature of though when you have actually transformed your cash you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their website won’t certainly limit you in any way however we have to understand 2 other costs the very first being what’s called spread fees all right and i’m going to show you what i mean on now a spread fee as i’m going to show you Bitboy Exchange.
You are given lots of options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this may be precisely what you require.