Not in fact having the total of capital…Bitboy Founder… so with anything that you’re learning more about please do study the platform do not simply assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative also so you really get utilized to the structure of the website 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 risk this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that individual has stated they’ve made profit 14 months in a row buy these options since you think is the right ones for you and that being said let’s dive directly in [Music] so 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 aspect that is probably.
popular for it’s the choice to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your money will be simulated 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 costs included truly vital you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 know before you actually start purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges actually important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission costs are complimentary nevertheless there are a number of other costs the first one is withdrawal costs so you can undoubtedly put cash 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 however when you want to withdraw your money so you sell your shares you offer your commodities 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply one of those options that they have a great deal of platforms clearly 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 once every 6 months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative 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 buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they really offering 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 instead you have to pay their fees now the great feature of however when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great utilizing that part of their site won’t certainly restrict you in any way however we have to understand 2 other costs the very first being what’s called spread charges fine and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Bitboy Founder.
You are provided numerous options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this may be precisely what you need.