Not in fact having the full amount of capital…Bitboy Elrond… so with anything that you’re discovering please do study the platform do not just presume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well 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 risk this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row invest in these options because you think is the ideal ones for you and that being stated let’s dive straight 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 element that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t normally 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 actually say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your cash will be simulated 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 costs included really crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero charge sites then may not charge you for really buying and selling funds or etfs private products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 really start buying copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with costs really crucial to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling fine so commission costs are totally free however there are a couple of other fees the first one is withdrawal costs so you can certainly 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 in the future but when you wish to withdraw your money so you offer your shares you sell your products 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those alternatives that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing however that is a charge to keep in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches 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 excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of need 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 providing 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 provide me us dollars instead you have to pay their fees now the terrific aspect of however when you have actually converted your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their website won’t certainly limit you in any way however we have to understand 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bitboy Elrond.
You are provided numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this might be precisely what you need.