Not in fact having the full amount of capital…Bitboy Investments… so with anything that you’re discovering please do study the platform do not simply presume because i use 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 too so you really get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row invest in these choices since you think is the best ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially each 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 investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved truly important you understand what are the expenses 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 a few of the absolutely no fee websites then may not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you in fact begin buying copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can obviously put money in now if you’re 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 wish to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum amount 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 make certain that i’m only withdrawing when i definitely require to now you might say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those choices that they have a lot of platforms certainly are totally 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 when every 6 months you understand depends completely how you’re investing however that is a fee to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and 2 free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact giving 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 give me us dollars instead you need to pay their costs now the fantastic aspect of however when you have actually converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good using that part of their website will not definitely restrict you in any way however we have to understand 2 other fees the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Bitboy Investments.
You are offered many options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to choose, then this might be exactly what you require.