Not really having the full amount of capital…Bitboy Facebook… so with anything that you’re learning about please do study the platform don’t just presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you really get utilized to the structure of the site and after that 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 companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row buy these options because you believe is the right ones for you which being stated let’s dive directly 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 aspect that is probably.
popular for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i want to do exactly what that trader is doing or match that precise portfolio of options and basically whenever 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 is 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 truly important you understand what are the costs of this now with any platform there will be some cost to obviously 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 some of the no charge sites then may not charge you for in fact buying and selling etfs or funds private commodities individual 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 sort 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 understand before you actually start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling fine so commission fees are free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount 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 ensure that i’m just withdrawing when i definitely need to now you may say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those choices 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 when every 6 months you know depends entirely how you’re investing however that is a fee to bear in mind the second cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow 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 use anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i expect stuck to whatever cost 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 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 say provide me us dollars rather you need to pay their fees now the terrific thing about however when you have actually transformed 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 buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good using that part of their website will not certainly limit you in any way however we have to know 2 other costs the first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Bitboy Facebook.
You are offered lots of choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this may be precisely what you require.