Not in fact having the total of capital…Bitboy Live… so with anything that you’re discovering please do study the platform don’t simply assume since i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you in fact get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something since that individual has stated they’ve made earnings 14 months in a row buy these options because you think is the right ones for you which being said let’s dive straight 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 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 therefore that indicates with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies 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 likewise cover is the fees involved really crucial you comprehend 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 no fee sites then may not charge you for actually buying and selling etfs or funds specific commodities private stocks.
there’ll be costs on other parts perhaps 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 show you the costs with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with fees actually important to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling all right so commission fees are free however there are a number of other costs the very first one is withdrawal charges so you can undoubtedly 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 but when you wish to withdraw your cash so you offer 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 understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state okay that’s rather costly 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 among those options that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a cost to remember the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there 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 instead you need to pay their fees now the excellent thing about however when you have actually converted your cash you do not need 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 initial 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 truly excellent using that part of their website won’t certainly limit you in any way however we need to be aware of two other fees the very first being what’s called spread fees alright and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Bitboy Live.
You are offered numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to pick, then this may be exactly what you require.