Not in fact having the full amount of capital…Bitboy.Io… so with anything that you’re learning about please do study the platform do not simply assume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you really get utilized 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 purchasing genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually said they’ve made earnings 14 months in a row purchase these choices due to the fact that you think is the right ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
popular for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they offer whatever they do your money will be simulated 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 money in so we’re going to likewise cover is the fees involved really critical you understand what are the expenses 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 included and even a few of the no cost websites then might not charge you for actually buying and selling etfs or funds individual products 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 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 before you in fact start investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with costs truly essential to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission costs are totally free however there are a number of other charges the very first one is withdrawal costs so you can clearly put money in now if you’re 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 want to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a cost to remember the 2nd charge that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two free trade anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact 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 state give me us dollars rather you have to pay their charges now the fantastic aspect of however when you have actually transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their website will not certainly restrict you in any way nevertheless we have to know 2 other costs 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.Io.
You are provided lots of choices with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this might be precisely what you require.