Not in fact having the total of capital…Bitboy Crypto Channel… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you really get used to the structure of the website and after that when you’re ready to utilize 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 investing in genuine companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they have actually made profit 14 months in a row invest in these options since you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we do not usually 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 actually state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial investment portfolio remains 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 vital you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 absolutely no cost websites then may not charge you for actually buying and selling funds or etfs private 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 reveal you the costs with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees truly important to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling all right so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can certainly put cash in now if you remain 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 later but when you wish to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state fine that’s quite 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 one of those choices that they have a great deal of platforms certainly 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 once every six months you know depends totally how you’re investing however that is a cost to remember the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two open market anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you understand 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 terms of 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 provide me us dollars rather you need to pay their charges now the fantastic thing about though when you’ve transformed your money 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 implies the preliminary 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 costs so that’s truly good using that part of their site will not definitely restrict you in any way nevertheless we need to know two other charges the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto Channel.
You are offered many options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to pick, then this might be precisely what you need.