Not really having the full amount of capital…Bittboy Retro… so with anything that you’re finding out 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 play around with it even invest with virtual cash they consider that alternative also 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 obviously your capital is at danger this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row invest in these choices since you think is the right ones for you which being said let’s dive directly in [Music] so 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 aspect that is most likely.
popular for it’s the choice 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 suggests with our money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of options and basically every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies 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 charges involved actually vital you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine business 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 no charge websites then may not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 know prior to you actually begin investing in copy trading or copy portfolios and lastly some finest recommendations 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 essential to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling all right so commission charges are totally free however there are a couple of other costs the very first one is withdrawal fees so you can undoubtedly put money in now if you’re 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 however when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may 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 costs somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they really providing 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 offer me us dollars rather you have to pay their charges now the great feature of however when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent utilizing that part of their site will not certainly limit you in any way however we have to know two other fees the first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bittboy Retro.
You are provided numerous 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 do not know which system to select, then this may be exactly what you require.