Not really having the full amount of capital…Bitboy Dot… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i utilize 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 alternative too so you really 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 of course your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually stated they’ve made profit 14 months in a row buy these choices since you believe is the best ones for you and that being said let’s dive directly in [Music] so the 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 probably.
famous for it’s the alternative to see what other traders are doing amazing 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 state i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved really critical 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 purchasing the selling for you there’s going to be charges included and even a few of the absolutely no fee websites then might not charge you for actually buying and selling etfs or funds private commodities private 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 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 actually begin investing in copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly crucial to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling alright so commission fees are free nevertheless there are a number of other fees the first one is withdrawal charges so you can clearly put cash in now if you’re 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 however when you wish to withdraw your money 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 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you might say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those choices that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a charge to remember the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually giving you in terms of 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 offer me us dollars rather you have to pay their costs now the great thing about however when you’ve transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that means 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 charges so that’s actually great utilizing that part of their site will not definitely restrict you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Bitboy Dot.
You are offered numerous options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to pick, then this might be precisely what you require.