Not really having the full amount of capital…Bitboy Crypto Age… so with anything that you’re learning more about please do study the platform don’t just assume since i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you in fact get used to the structure of the website and then when you’re ready to utilize 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 purchasing real business if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they have actually made revenue 14 months in a row buy these options because you believe is the right ones for you which being said let’s dive directly in [Music] so 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 amazing we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for example 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 likewise cover is the costs included really important you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge websites then might not charge you for in fact buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 know prior to you actually begin investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with costs truly crucial to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling alright so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends completely how you’re investing but that is a fee to remember the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great that suits 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 charge now when you use anybody so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type 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 in fact giving 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 say provide me us dollars instead you have to pay their fees now the terrific feature of however when you have actually transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great using that part of their website will not certainly limit you in any way however we need to know two other costs the very first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bitboy Crypto Age.
You are offered lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to pick, then this may be exactly what you need.