Not really having the total of capital…Bitboy Interview… so with anything that you’re discovering please do study the platform don’t just presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you really get utilized 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 naturally your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something since that individual has actually stated they’ve made revenue 14 months in a row buy these choices due to the fact that you think is the best 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 understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved really vital you understand what are the costs of this now with any platform there will be some cost to obviously 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 some of the zero fee websites then may not charge you for really buying and selling funds or etfs specific commodities private stocks.
there’ll be fees on other parts maybe 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 start 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 advanced investor so let’s begin with charges really important to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling fine so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal charges so you can clearly put money in now if you’re in the uk we put our uk money.
and it’s automatically 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 offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those options that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy 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 purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two open market anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they in fact providing 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 state give me us dollars instead you have to pay their fees now the terrific aspect of however when you’ve converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent utilizing that part of their website won’t certainly restrict you in any way nevertheless we have to know 2 other fees the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Interview.
You are provided lots of 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 know which system to choose, then this might be precisely what you need.