Not really having the total of capital…Bitboy Crypto Portfolio… so with anything that you’re learning about please do study the platform do not simply assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you in fact 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 obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that person has actually said they’ve made earnings 14 months in a row invest in these options because you believe is the right ones for you which being said let’s dive straight 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 aspect that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved actually crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then might not charge you for actually buying and selling etfs or funds private products specific 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 fees 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 know prior to you actually begin buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually important to comprehend these now on there’s a couple of charges there isn’t charges to do with really buying and selling alright so commission fees are free nevertheless there are a number of other fees the first one is withdrawal fees so you can undoubtedly put cash 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 in the future but when you wish to withdraw your cash so you sell your shares you offer your products 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 knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may say 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 fees are just one of those options that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a charge to keep in mind the second fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s fine that fits 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 excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really 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 instead you have to pay their fees now the great feature of however when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash 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 extra costs so that’s actually great utilizing that part of their website won’t definitely limit you in any way however we need to know 2 other charges the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy Crypto Portfolio.
You are offered lots of choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to pick, then this may be exactly what you need.