Not in fact having the full amount of capital…Bitboy Indicator… so with anything that you’re finding out about please do study the platform don’t just assume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you actually get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly 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’ve made profit 14 months in a row buy these choices due to the fact that you think is the best ones for you which being stated let’s dive directly 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved actually important you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost sites then may not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with costs actually essential to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling all right so commission fees are complimentary nevertheless there are a number of other costs the first one is withdrawal costs so you can clearly put money 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 but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those alternatives that they have a lot of platforms obviously are complimentary 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 as soon as every six months you understand depends totally how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy 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 and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two free trade anyone at all this is basic they have i expect stuck with whatever cost 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 charge is there what are they really 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 fees now the terrific thing about though when you have actually transformed your cash you do not need to invest it right away 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 convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good using that part of their website will not certainly limit you in any way however we have to be aware of two other charges the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bitboy Indicator.
You are given lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this may be exactly what you need.