Not actually having the total of capital…Bittboy V3… so with anything that you’re learning more about please do study the platform don’t simply presume since 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 cash they consider that option as well so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made earnings 14 months in a row invest in these choices since you think is the right ones for you which being said 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really say i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved really critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for really buying and selling etfs or funds specific products 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 type of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you in fact start buying copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with costs truly essential to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission fees are free however there are a couple of other fees the first one is withdrawal costs 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 money so you sell your shares you offer your commodities 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 understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those choices that they have a lot 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 perhaps even once a year when every six months you know depends entirely how you’re investing however that is a fee to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 utilizing trading two and two open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they in fact offering you in terms of 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 have to pay their costs now the terrific aspect of however when you’ve transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their site will not definitely limit you in any way however we need to know 2 other charges the first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bittboy V3.
You are given numerous alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this might be precisely what you require.