Not actually having the total of capital…Bitboy Crypto Hex… so with anything that you’re learning more about please do study the platform don’t simply presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you really 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 danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re discussing how to copy other people’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 individual has actually said they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the best ones for you and that being said let’s dive straight 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 extraordinary 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 indicates with our cash 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 buy they sell whatever they do your money will be mimicked with it so that suggests if for instance 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 fees included truly important you comprehend what are the costs 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 some of the absolutely no fee sites then may not charge you for actually buying and selling etfs or funds private products 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 sort of costs 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 prior to you in fact start buying copy trading or copy portfolios and finally some best 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 really important to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling fine so commission charges are totally free nevertheless there are a number of other fees the 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 immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling 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 need to now you may say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply one of those choices that they have a lot of platforms obviously are free 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 as soon as every 6 months you know depends entirely how you’re investing but that is a fee to bear in mind the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that matches 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 great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they in fact offering 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 say provide me us dollars instead you have to pay their costs now the fantastic aspect of however when you’ve transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial 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 additional costs so that’s really great using that part of their website will not certainly restrict you in any way nevertheless we need to understand two other charges the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy Crypto Hex.
You are provided numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to select, then this may be exactly what you need.