Not actually having the total of capital…Bitboy Investments… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you actually get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that individual has said they’ve made earnings 14 months in a row buy these choices since you believe is the best ones for you which 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 aspect that is probably.
well-known for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that implies if for instance 10 of their financial 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 charges involved really vital you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies 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 sites then might not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 really start buying copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly essential to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling all right so commission charges are complimentary however there are a couple of other costs the first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk money.
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 sell 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those choices that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a fee to bear in mind the second cost that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway 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 cost now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have i expect stuck to whatever charge 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 cost is there what are they actually providing you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say give me us dollars rather you have to pay their fees now the great feature of though when you have actually transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial 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 extra costs so that’s truly great utilizing that part of their site won’t definitely limit you in any way however we need to know 2 other fees the very first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bitboy Investments.
You are given many options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to pick, then this might be precisely what you require.