Not actually having the total of capital…Bitboy Portfolio Tracker… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option too so you actually get utilized 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 threat this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row invest in these options due to the fact that you think is the best ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary 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 money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial 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 charges involved truly important you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no charge sites then might not charge you for in fact buying and selling etfs or funds specific 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 sort of fees 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 know prior to you really start investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with costs actually crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling okay so commission charges are complimentary however 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 instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those choices that they have a great deal of platforms clearly are totally 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 however that is a fee to keep in mind the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent 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 free trade anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there 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 rather you have to pay their costs now the great feature of however when you’ve converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy 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 excellent using that part of their site will not definitely limit you in any way nevertheless we need to know 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Bitboy Portfolio Tracker.
You are offered lots of options with this software application 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 choose, then this might be exactly what you require.