Not in fact having the total of capital…Bitboy Frontier… so with anything that you’re finding out about please do study the platform do not simply assume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has actually stated they have actually made earnings 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you and that being said let’s dive straight 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 probably.
popular for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually state i wish to do exactly what that trader is doing or match that precise 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 indicates if for example 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 also cover is the costs involved truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no cost websites then may not charge you for really buying and selling etfs or funds private products specific 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 reveal you the costs with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with fees truly crucial to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly 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 however when you wish to withdraw your cash so you sell 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 just withdrawing when i definitely need to now you might say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among those options that they have a lot of platforms clearly are totally 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 as soon as every 6 months you know depends totally how you’re investing but that is a charge to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they in fact providing 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 state offer me us dollars instead you need to pay their fees now the fantastic thing about however when you have actually converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent using that part of their site will not definitely limit you in any way nevertheless we have to be aware of 2 other fees the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Frontier.
You are offered lots of choices with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this might be precisely what you need.