Not actually having the total of capital…Bittboy Game… 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 utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually get used 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 naturally your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row purchase these choices since you think is the best ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding 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 extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they offer whatever they do your money will be simulated 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 money in so we’re going to likewise cover is the charges involved truly vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real 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 really buying and selling funds or etfs private products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 prior to you really begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges truly crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling alright so commission costs are free nevertheless there are a number of other charges the first one is withdrawal costs 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 however when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum quantity 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 may say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those choices that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing but that is a cost to keep in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’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 great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two free trade anybody 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 utilize their platform go from uk to us then that conversion fee exists 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 provide me us dollars instead you need to pay their costs now the excellent thing about though when you have actually transformed your cash 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 means the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their site won’t definitely limit you in any way nevertheless we need to know 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bittboy Game.
You are offered numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not know which system to choose, then this might be precisely what you need.