Not in fact having the total of capital…Bitboy Crypto Ledger… so with anything that you’re learning about please do study the platform don’t just presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option also so you really get utilized to the structure of the site and then when you’re ready to use your own money 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 real business if you choose to in this specific video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row invest in these choices because you think is the ideal ones for you and that being stated let’s dive directly 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’s part of social trading which is one element that is most likely.
well-known for it’s the alternative to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for instance 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 also cover is the charges involved really critical you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real 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 zero cost sites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering 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 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 advice best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees truly crucial to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling alright so commission fees are free however there are a number of other fees the first one is withdrawal costs 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 in the future however when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those choices 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 perhaps even once a year as soon as every six months you understand depends completely how you’re investing but that is a charge to bear in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two free trade anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact 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 give me us dollars instead you need to pay their charges now the fantastic thing about however when you have actually converted your money 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 indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent utilizing that part of their site will not certainly restrict you in any way however we have to know 2 other costs the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread cost as i’m going to show you Bitboy Crypto Ledger.
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 however do not know which system to pick, then this may be precisely what you need.