Not in fact having the total of capital…Bittboy V2… 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 immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something since that individual has said they have actually made profit 14 months in a row invest in these options due to the fact that you think is the ideal ones for you which being said let’s dive directly in [Music] so the 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 aspect that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can actually say i want to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests 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 likewise cover is the costs included truly crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero fee 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 perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really important to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission charges are complimentary however there are a number of other fees the first one is withdrawal fees so you can obviously put cash in now if you remain 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 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 ensure that i’m just withdrawing when i definitely require to now you may say all right that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just among those choices that they have a lot of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a charge to keep in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’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 good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually offering you in regards to 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 give me us dollars instead you have to pay their charges now the terrific thing about though when you’ve converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests 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 fees so that’s actually excellent using that part of their website won’t certainly restrict you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Bittboy V2.
You are provided lots of 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 might be precisely what you require.