Not actually having the full amount of capital…Bitboy Hex… so with anything that you’re discovering please do study the platform do not simply presume 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 cash they give that option also so you really get used to the structure of the site and after that when you’re ready to use your own money 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 companies if you select to in this specific 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 simply do something because that person has actually said they have actually made revenue 14 months in a row invest in these options 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 element that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for instance 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 fees included really crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no charge sites then may not charge you for in fact buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 before you really start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling alright so commission charges are complimentary nevertheless there are a couple of other fees the first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell your shares you offer your commodities 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state 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 just among those alternatives 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 as soon as every 6 months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s great that matches me.
a lot 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 fee now when you use anyone so if you’re using trading two and two free trade anyone at all this is standard they have i expect stuck to whatever fee 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 cost exists what are they really 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 state offer me us dollars rather you need to pay their charges now the fantastic thing about though when you’ve transformed your cash you do not have to invest it right away that dollar worth 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 additional fees so that’s really excellent utilizing that part of their website will not definitely limit you in any way nevertheless we need to know 2 other charges the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bitboy Hex.
You are offered numerous options with this software application 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 require.