Not really having the total of capital…Bitboy Crypto Family… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i use 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 alternative too so you really get used to the structure of the site and then when you’re ready to utilize 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 buying real companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row invest in these choices since you think is the right 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
well-known 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 advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked 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 costs included really critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge websites then may not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you actually begin investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with charges truly important to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling all right so commission fees are complimentary however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put money in now if you remain 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 in the future but when you want to withdraw your cash 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 of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require 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 fees somewhere and withdrawal costs are just among those alternatives that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a fee to keep in mind the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to use 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 bargain with them you can’t go to the bank and say give me us dollars rather you need to pay their costs now the great aspect of however when you have actually converted your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary 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 additional costs so that’s really good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Family.
You are provided lots of choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to choose, then this may be precisely what you need.