Not really having the full amount of capital…Bittboy V3.5… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you in fact 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 obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually said they have actually made profit 14 months in a row buy these options since you think is the ideal ones for you and that being said 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 probably.
famous for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies 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 charges included really crucial 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 purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then might not charge you for actually buying and selling funds or etfs specific commodities private 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 costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you in fact begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs actually essential to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission fees are free however there are a number of other charges the very first one is withdrawal costs so you can obviously put cash 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 however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount 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 make sure that i’m just withdrawing when i definitely need to now you may say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing but that is a cost to bear in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow 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 charge now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have i suppose stuck with whatever cost 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 cost exists what are they really offering you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state give me us dollars instead you have to pay their costs now the fantastic feature of however when you have actually converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of 2 other costs the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bittboy V3.5.
You are offered lots of options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not understand which system to pick, then this may be exactly what you require.