Not actually having the full amount of capital…Bitboy Crypto Twitter… so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash 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 purchasing genuine business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row invest in these options since you believe is the best ones for you and that being stated let’s dive directly 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 aspect that is probably.
famous for it’s the alternative 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 implies with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included truly important you understand what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then may not charge you for actually buying and selling etfs or funds specific products specific stocks.
there’ll be costs on other parts perhaps 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 reveal you the costs with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with fees actually crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling all right so commission costs are totally free however there are a couple of other charges the first one is withdrawal charges so you can undoubtedly put cash in now if you’re 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 later but when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those choices that they have a lot of platforms undoubtedly 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 once every 6 months you understand depends entirely how you’re investing but that is a charge to remember the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine 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 good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge 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 haggle with them you can’t go to the bank and say give me us dollars rather you have to pay their fees now the great feature of though when you have actually converted your money you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their site won’t certainly limit you in any way however we need to know 2 other fees the first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bitboy Crypto Twitter.
You are given 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 know which system to select, then this may be precisely what you require.