Not actually having the total of capital…Bittboy Pocket Go V3… so with anything that you’re learning more about please do study the platform don’t just assume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option too so you really get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that individual has said they have actually made revenue 14 months in a row invest in these options since you think is the best 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means 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 charges included truly vital you comprehend what are the expenses of this now with any platform there will be some expense to obviously 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 some of the absolutely no charge sites then might not charge you for actually buying and selling funds or etfs individual commodities specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 know before you actually begin purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with charges really important to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling okay so commission costs are complimentary however there are a number of other fees the first one is withdrawal charges so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer your shares you sell your products whatever you’re offering 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 ensure that i’m only withdrawing when i absolutely require to now you may say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those options that they have a great deal of platforms obviously are free 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 as soon as every 6 months you understand depends totally how you’re investing however that is a cost to remember the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot 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 charge now when you utilize anybody so if you’re using trading two and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact giving 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 instead you need to pay their fees now the terrific aspect of though when you’ve converted your money you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 extra fees so that’s truly good using that part of their site will not definitely limit you in any way nevertheless we have to understand two other fees the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread fee as i’m going to show you Bittboy Pocket Go V3.
You are offered many options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to pick, then this may be exactly what you need.