Not in fact having the total of capital…Bitboy Icp… so with anything that you’re learning more about please do study the platform don’t simply assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re discussing how to copy other people’s investments with your money so undoubtedly 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 purchase these options due to the fact that you think is the right ones for you which being said 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 becomes part of social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates 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 costs included actually vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine 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 absolutely no charge websites then might not charge you for in fact buying and selling funds or etfs specific products specific 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 kinds of charges 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 before you actually start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually important to understand these now on there’s a couple of fees there isn’t charges to do with really buying and selling all right so commission charges are totally free nevertheless there are a couple of other fees the first one is withdrawal fees so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
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 cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just one of those choices that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you know depends completely how you’re investing but that is a fee to bear in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and 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 using trading two and 2 free trade anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind 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 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 say offer me us dollars instead you have to pay their charges now the excellent feature of though when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their website won’t certainly restrict you in any way however we have to know two other costs the first being what’s called spread fees fine and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy Icp.
You are provided many choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this may be exactly what you require.