Not in fact having the total of capital…Bitboy Crypto Market Cipher… so with anything that you’re learning about please do study the platform do not simply presume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you actually 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 genuine companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something since that individual has actually stated they’ve made profit 14 months in a row buy these choices since you believe is the right ones for you and that being stated let’s dive directly in [Music] 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.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t generally 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 cash we can really state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for instance 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 likewise cover is the costs involved really important you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no fee websites then might not charge you for in fact buying and selling etfs or funds private products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 actually start buying copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with costs truly important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling all right so commission fees are free however there are a number of other costs the first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk cash.
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 products 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might 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 just among those options that they have a great deal of platforms obviously are complimentary 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 understand depends completely how you’re investing however that is a fee to keep in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative 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 buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge 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 offer me us dollars rather you need to pay their charges now the fantastic thing about though when you’ve converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent using that part of their website won’t certainly limit you in any way however we need to understand two other fees the first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Market Cipher.
You are given many choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this might be exactly what you need.