Not in fact having the full amount of capital…Bitboy Founder… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you in fact get utilized 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 obviously your capital is at risk this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row buy these choices because you think is the right ones for you which being said 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.
famous for it’s the option to see what other traders are doing amazing we don’t generally 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 cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial 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 fees included really crucial you comprehend 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 purchasing the selling for you there’s going to be charges involved and even a few of the no fee websites then might not charge you for really buying and selling etfs or funds private commodities individual 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 kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually essential to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission costs are complimentary however there are a couple of other charges the very first one is withdrawal charges so you can obviously put cash in now if you’re 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 but when you want to withdraw your money so you sell 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 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you understand depends totally how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option 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 purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion fee is there 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 bargain with them you can’t go to the bank and state give me us dollars instead you have to pay their costs now the terrific feature of though when you’ve converted your money 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 implies the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their website will not definitely limit you in any way nevertheless we need to be aware of 2 other fees the first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Founder.
You are provided lots of choices with this software 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 choose, then this might be precisely what you need.