Not in fact having the total of capital…Bittboy Review… so with anything that you’re learning about please do study the platform do not simply assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you really get utilized to the structure of the website and after that when you’re ready to utilize your own cash 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 real business if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that person has actually said they’ve made revenue 14 months in a row buy these choices because you believe is the ideal ones for you which being said let’s dive directly in [Music] so the important 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 probably.
well-known for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for example 10 of their financial 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 charges involved really vital you understand what are the costs of this now with any platform there will be some expense to certainly 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 no cost sites then might not charge you for in fact buying and selling funds or etfs private commodities individual 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 type of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with fees truly important to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling alright so commission costs are totally free nevertheless there are a number of other fees the very first one is withdrawal charges so you can clearly 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 amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you may state all right that’s rather 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 among those options that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing however that is a cost to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they actually 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 offer me us dollars instead you have to pay their fees now the terrific feature of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit 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 additional charges so that’s truly great using that part of their website will not definitely limit you in any way however we need to be aware of 2 other charges the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bittboy Review.
You are given numerous choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this may be precisely what you need.