Not really having the full amount of capital…Bittboy Gameboy… so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually stated they have actually made earnings 14 months in a row purchase these options because you believe is the right ones for you which being stated 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 alternative to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that implies 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 likewise cover is the charges involved truly critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for in fact buying and selling etfs or funds specific products individual stocks.
there’ll be charges 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 before you really start investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with costs truly important to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling okay so commission charges are free however there are a number of other charges the very first one is withdrawal charges so you can undoubtedly 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 in the future but when you want to withdraw your cash so you sell your shares you sell your commodities 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 make sure that i’m just withdrawing when i definitely need to now you might state alright that’s rather expensive 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 among those alternatives 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 perhaps even once a year when every six months you know depends entirely how you’re investing but that is a cost to remember the 2nd charge that i have actually discussed 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 suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind 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 actually 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 state provide me us dollars instead you need to pay their charges now the terrific thing about though when you have actually transformed your money you do not have to invest it right away 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 buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their website won’t definitely restrict you in any way however we need to be aware of two other fees the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to show you Bittboy Gameboy.
You are given many alternatives 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 choose, then this might be exactly what you require.