Not in fact having the full amount of capital…Bitboy Labs… so with anything that you’re finding out about please do study the platform do not simply assume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you really get utilized 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 danger this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re talking 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 simply do something because that person has stated they have actually made revenue 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for instance 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 likewise cover is the costs included truly important you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost websites then may not charge you for really buying and selling etfs or funds individual commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 in fact begin purchasing 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 investor so let’s begin with fees actually essential to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling okay so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal charges so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s immediately 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 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 understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing however that is a charge to keep in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is basic they have i expect stuck to 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 charge is there 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 give me us dollars instead you need to pay their charges now the excellent feature of though when you’ve transformed your money you do not have to invest it right now that dollar value can sit 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their site won’t certainly limit you in any way nevertheless we have to know 2 other charges the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Labs.
You are provided many choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to select, then this may be exactly what you require.