Not in fact having the total of capital…Bitboy Indicator… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that option too so you actually get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row invest in these choices since you believe is the best ones for you and that being stated let’s dive straight in [Music] 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 element that is most likely.
popular for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for instance 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 charges included really vital you understand what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge websites then may not charge you for in fact buying and selling etfs or funds individual commodities individual 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 type of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and lastly some finest guidance 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 truly important to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling all right so commission costs are totally free nevertheless there are a number of other costs the very first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you offer your products 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 of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just 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 once every 6 months you understand depends totally how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually 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 fine that fits 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 great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and two open market anybody this is standard they have i suppose stuck to whatever charge 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 exists what are they in fact 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 give me us dollars rather you have to pay their charges now the fantastic aspect of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we have to be aware of two other fees the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bitboy Indicator.
You are offered many alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this may be exactly what you require.