Not actually having the total of capital…Bitboy Crypto Voyager… so with anything that you’re learning more about please do study the platform don’t just presume since i utilize 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 option also so you in fact get used 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 of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re discussing how to copy other individuals’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 individual has actually said they have actually made earnings 14 months in a row invest in these options due to the fact that you believe is the right ones for you and that being said let’s dive straight 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.
famous for it’s the choice to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash 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 also cover is the charges included truly important you understand 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 charge sites then may not charge you for really buying and selling funds or etfs individual products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and lastly some finest guidance 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 charges actually crucial to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission charges are complimentary nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put money 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 on however when you wish to withdraw your cash 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 ensure that i’m only withdrawing when i definitely need to now you might say fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends entirely how you’re investing but that is a charge to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 free trade anybody this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say offer me us dollars instead you need to pay their charges now the terrific feature of however when you’ve transformed your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert 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 good using that part of their website will not certainly restrict you in any way nevertheless we have to know 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bitboy Crypto Voyager.
You are given numerous alternatives 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 know which system to select, then this may be precisely what you require.