Not in fact having the total of capital…Bitboy Iota… so with anything that you’re finding out about please do study the platform don’t just assume since 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 consider that option as well so you actually get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick 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 simply do something since that individual has actually stated they’ve made earnings 14 months in a row purchase these options since you think is the ideal ones for you which being stated let’s dive straight 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 probably.
well-known for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies if for example 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 critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no charge websites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
there’ll be fees on other parts perhaps 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 costs with in particular in this video the next would be things to understand before you actually start buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs actually important to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling fine so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer 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 five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those alternatives that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you know depends completely how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two open market anybody this is basic they have i expect stuck with whatever cost 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 cost is there what are they really providing you in terms of 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 give me us dollars rather you need to pay their charges now the terrific thing about however when you have actually transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their website won’t definitely restrict you in any way nevertheless we have to understand 2 other fees the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Iota.
You are given many options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to select, then this may be precisely what you need.