Not actually having the full amount of capital…Bitboy Portfolio… so with anything that you’re learning about please do study the platform don’t simply presume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that option also so you actually get utilized to the structure of the website and after that 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 real business if you choose 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 threat and we have to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row purchase these options because you think is the right ones for you and that being said let’s dive directly in [Music] so the important 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 aspect that is most likely.
famous for it’s the choice to see what other traders are doing amazing we do not typically 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 money we can really state i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that suggests if for example 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 costs included really vital you understand what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no cost sites then might not charge you for actually buying and selling funds or etfs private commodities private stocks.
there’ll be costs 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 charges with in particular in this video the next would be things to understand prior to you actually start purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really essential to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling all right so commission charges are free however there are a couple of other fees the very first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately 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 offer 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state alright that’s quite 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 charges are simply one of those alternatives that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends totally how you’re investing but that is a fee to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent 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 anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually offering you in regards to 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 provide me us dollars rather you have to pay their fees now the great feature of however when you have actually converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform 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 truly excellent utilizing that part of their website won’t certainly limit you in any way nevertheless we need to know two other costs the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bitboy Portfolio.
You are provided many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not know which system to choose, then this might be precisely what you need.