Not in fact having the full amount of capital…Bitboy Fox News… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option too so you really get used 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 naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something since that individual has said they have actually made earnings 14 months in a row purchase these options since you think is the best ones for you which being stated let’s dive straight in [Music] so the 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.
popular for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that implies 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 also cover is the costs involved truly vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee sites then may not charge you for really buying and selling funds or etfs individual products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 really start purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges really essential to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling alright so commission costs are complimentary nevertheless there are a number of other charges the very first one is withdrawal fees so you can clearly 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 in the future but when you wish to withdraw your money so you offer your shares you sell your commodities 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might say fine that’s quite costly and i get that however 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 great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a fee to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to buy 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 buying or perhaps 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 two and two free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really 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 state provide me us dollars rather you need to pay their charges now the excellent thing about however when you have actually converted your cash you do not have to invest it right now that dollar worth 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 happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their website won’t certainly restrict you in any way nevertheless we have to be aware of 2 other fees 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 reveal you Bitboy Fox News.
You are provided lots of choices with this software 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 pick, then this may be exactly what you need.