Not in fact having the full amount of capital…Bitboy Crypto Ecomi… so with anything that you’re discovering please do study the platform don’t simply presume because i use 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 alternative too so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row invest in these options due to the fact that you think is the right ones for you which being said let’s dive straight 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 element that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really state 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 buy they sell whatever they do your cash will be imitated with it so that means if for example 10 of their investment portfolio remains 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 actually critical you understand what are the costs of this now with any platform there will be some cost 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 cost websites then might not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with costs really crucial to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk money.
and it’s instantly 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 commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those options that they have a lot of platforms obviously are free 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 when every 6 months you understand depends entirely how you’re investing but that is a charge to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you kind 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 actually giving 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 say provide me us dollars instead you need to pay their fees now the fantastic feature of however when you’ve transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that takes place 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 restrict you in any way however we need to know 2 other fees the first being what’s called spread fees alright and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Bitboy Crypto Ecomi.
You are given lots of alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this may be precisely what you require.