Not actually having the total of capital…Bitboy Crypto Book… so with anything that you’re learning more about please do study the platform do not just assume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has actually stated they’ve made revenue 14 months in a row buy these options due to the fact that you believe is the best ones for you and that being said let’s dive directly 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 aspect that is probably.
popular for it’s the choice to see what other traders are doing incredible we do not usually 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 money we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included really critical you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge sites then might not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs really crucial to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling okay so commission costs are complimentary however there are a couple of other costs the very 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 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 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 obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among 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 once every 6 months you know depends entirely how you’re investing however that is a cost to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even 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 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they really giving 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 say provide me us dollars instead you need to pay their costs now the terrific thing about however when you’ve converted your cash 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 occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their website won’t certainly limit you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bitboy Crypto Book.
You are given numerous alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t understand which system to select, then this might be precisely what you need.