Not really having the total of capital…Bitboy Crypto Market Cipher… so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize it that you can use 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 in fact get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something since that person has said they have actually made revenue 14 months in a row invest in these options due to the fact that you believe is the best ones for you and that being said let’s dive straight 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.
popular for it’s the alternative to see what other traders are doing incredible 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 suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved truly important you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs specific products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to understand prior to you in fact start investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with costs actually crucial to understand these now on there’s a couple of fees there isn’t charges to do with really buying and selling alright so commission costs are complimentary nevertheless there are a number of other charges the first one is withdrawal charges so you can clearly 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 however when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those options that they have a lot of platforms certainly are complimentary to do such things has this five 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 entirely how you’re investing however that is a cost to bear in mind the second charge that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy 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 buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they actually providing you in terms of 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 say offer me us dollars instead you have to pay their costs now the fantastic aspect of however when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash 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 extra costs so that’s actually excellent utilizing that part of their website will not definitely limit you in any way however we have to understand two other costs the first being what’s called spread fees okay and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Crypto Market Cipher.
You are offered lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to select, then this might be precisely what you need.