Not actually having the total of capital…Bitboy Crypto Ecomi… so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has stated they have actually made profit 14 months in a row buy these choices because you believe is the right ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
well-known for it’s the alternative to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for instance 10 of their financial 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 fees involved truly important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 might not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 costs with in particular in this video the next would be things to know before you actually begin investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs really important to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling okay so commission costs are totally free however there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put cash in now if you remain in the uk we put our uk cash.
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 money so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those options that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that fits 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 excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and 2 free trade anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion charge exists 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 instead you have to pay their costs now the fantastic feature of however when you have actually transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 fees so that’s truly good using that part of their website won’t certainly restrict you in any way however we need to be aware of 2 other charges the first being what’s called spread costs okay and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Crypto Ecomi.
You are offered lots of 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 select, then this may be exactly what you require.