Not actually having the total of capital…Bitboy Crypto Quant… so with anything that you’re finding out about please do study the platform don’t just presume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you actually get used to the structure of the website and after that when you’re ready to use your own cash 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 investing in genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row invest in these options since you believe is the ideal ones for you which being stated let’s dive directly in [Music] The 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 unbelievable we don’t 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 cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means 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 also cover is the charges involved really critical you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine 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 cost websites then might not charge you for really buying and selling etfs or funds individual commodities individual stocks.
there’ll be costs on other parts maybe 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 charges with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with fees really important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling okay so commission fees are free however there are a number of other fees the first one is withdrawal charges so you can obviously put cash 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 later however when you want to withdraw your money 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those alternatives that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends totally how you’re investing but that is a charge to remember the second charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use 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 give me us dollars rather you need to pay their costs now the fantastic feature of though when you have actually 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 suggests the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their site won’t definitely restrict you in any way however we have to understand 2 other costs 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 show you Bitboy Crypto Quant.
You are given numerous choices 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 select, then this may be exactly what you require.