Not really having the total of capital…Bitboy Dot… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option too so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real business if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something since that person has actually stated they’ve made profit 14 months in a row buy these options since you think 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 becomes part of social trading which is one aspect that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for example 10 of their 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 charges involved really crucial you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine 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 zero fee sites then might not charge you for in fact buying and selling funds or etfs individual 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 type of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you really begin purchasing copy trading or copy portfolios and lastly some finest suggestions 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 charges truly important to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling all right so commission charges are totally free nevertheless there are a couple of other costs the first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends completely how you’re investing however that is a charge to bear in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and 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 two and 2 free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact 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 give me us dollars rather you need to pay their charges now the excellent thing about though when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good utilizing that part of their site will not definitely restrict you in any way however we have to know 2 other fees the first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Dot.
You are given lots of options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to pick, then this may be precisely what you need.