Not in fact having the total of capital…Bitboy Frontier… so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you in fact get used 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 threat this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row purchase these options since you believe is the best ones for you and that being said 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 becomes part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that means 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 costs included truly vital 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 purchasing the selling for you there’s going to be charges included and even some of the no fee sites then may not charge you for really buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with costs truly essential to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling alright so commission costs are totally free however there are a couple of other fees the very first one is withdrawal charges so you can obviously put cash in now if you remain 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 later on but when you want to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those options that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends completely how you’re investing however that is a charge to bear in mind the second charge that i have actually discussed is that conversion fee 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 fits 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 good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering 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 provide me us dollars instead you need to pay their costs now the excellent thing about though when you’ve converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy 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 truly good using that part of their site won’t certainly restrict you in any way however we have to understand two other costs the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Bitboy Frontier.
You are offered many options 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 pick, then this may be precisely what you need.