Not in fact having the full amount of capital…Bitboy Crypto Market Cipher… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you really get used to the structure of the site and then when you’re ready to use your own money 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 talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually stated they’ve made revenue 14 months in a row purchase these choices because you think is the best ones for you and that being said 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 most likely.
well-known for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that indicates if for instance 10 of their 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 fees included truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge websites then may not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you in fact begin purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees truly important to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission costs are totally free nevertheless there are a number of other charges the very first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money 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 of course understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms undoubtedly are totally 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 once every six months you know depends totally how you’re investing however that is a cost to keep in mind the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually giving 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 say provide me us dollars instead you have to pay their charges now the excellent aspect of however when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 using that part of their site won’t certainly limit you in any way however we need to understand 2 other costs the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread cost as i’m going to show you Bitboy Crypto Market Cipher.
You are given numerous 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 choose, then this might be exactly what you require.