Not actually having the full amount of capital…Bitboy Ben Armstrong… so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you really get utilized 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 naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at threat and we have to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row invest in these choices since 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 most likely.
well-known for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that indicates 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 also cover is the costs included really important you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero charge sites then might not charge you for really buying and selling etfs or funds individual products individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 understand before you actually start buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs truly essential to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling fine so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling 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 absolutely need to now you may say fine that’s quite pricey 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 simply among those alternatives that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six 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 touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits me.
a great deal 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 fee now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really providing you in terms of 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 say offer me us dollars instead you need to pay their costs now the great thing about however when you have actually converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really good using that part of their website won’t definitely limit you in any way however we need to know 2 other charges the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Ben Armstrong.
You are offered lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to choose, then this may be exactly what you require.