Not in fact having the total of capital…Bitboy Crypto Website… so with anything that you’re learning about please do study the platform do not just presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you actually get used to the structure of the site and after that when you’re ready to use 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 specific video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row purchase these choices since you believe is the ideal ones for you which being stated let’s dive straight 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 belongs to social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests 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 vital you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business 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 fee websites then may not charge you for in fact buying and selling etfs or funds private products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with costs actually essential to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling alright so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal charges 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 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 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only 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 have to charge fees someplace and withdrawal fees are simply among those options that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing however that is a fee to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that suits me.
a lot 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 cost now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really offering 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 give me us dollars rather you have to pay their charges now the excellent thing about though when you have actually transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 additional fees so that’s truly good utilizing that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Website.
You are provided lots of alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this may be precisely what you require.