Not really having the full amount of capital…Bitboy Banned… so with anything that you’re learning about please do study the platform do not simply assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you really get used to the structure of the site 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 threat this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row purchase these choices because you believe is the right ones for you which being said let’s dive directly 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 element that is probably.
famous for it’s the alternative to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really state i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for example 10 of their financial 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 fees included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine 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 fee sites then might not charge you for in fact buying and selling funds or etfs private products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 really start purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission fees are complimentary nevertheless there are a number of other costs the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you offer your commodities 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those alternatives that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two free trade anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they really 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 state provide me us dollars rather you need to pay their charges now the great thing about however when you’ve converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates 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 charges so that’s actually good utilizing that part of their site will not certainly limit you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Bitboy Banned.
You are offered many choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to select, then this might be precisely what you require.