Not actually having the total of capital…Bitboy Crypto House… 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 utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that alternative 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 purchasing genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something because that person has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you and that 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 choice to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that means 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 included really important you understand what are the costs of this now with any platform there will be some cost to clearly 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 a few of the zero fee websites then might not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 know before you in fact begin investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges really important to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling alright so commission fees are totally free however there are a number of other charges the first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk money.
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 sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state all right that’s quite costly 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 just one of those options that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing but that is a charge to keep in mind the second fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing 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 need to pay their costs now the terrific thing about however when you’ve transformed your cash you do not have to invest it immediately that dollar value 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great utilizing that part of their site will not certainly limit you in any way nevertheless we have to be aware of 2 other fees the very first being what’s called spread fees okay and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Crypto House.
You are provided numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to select, then this may be precisely what you require.