Not actually having the total of capital…Bitboy Ada Pool… so with anything that you’re finding out about please do study the platform don’t just presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you really get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row buy these options because you believe is the best 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 aspect that is probably.
famous for it’s the option to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they offer whatever they do your money will be simulated 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 cash in so we’re going to likewise cover is the charges included really vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine 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 websites then might not charge you for in fact buying and selling etfs or funds specific 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 kinds 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 prior to you in fact start investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs truly crucial to comprehend these now on there’s a number of fees there isn’t charges to do with in fact buying and selling all right so commission costs are complimentary however there are a number of other charges the first one is withdrawal costs so you can clearly put cash in now if you remain 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 however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re selling 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 knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this 5 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 totally how you’re investing but that is a charge to bear 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 an option to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two free trade anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they actually giving 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 provide me us dollars instead you have to pay their charges now the fantastic feature of however when you’ve converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests 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 additional fees so that’s actually excellent utilizing that part of their website will not definitely limit you in any way however we need to understand 2 other charges the very first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Ada Pool.
You are offered numerous alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however do not understand which system to select, then this may be exactly what you need.