Not really having the full amount of capital…Bitboy Gif… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you really get used 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 of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has stated they’ve made revenue 14 months in a row buy these options because you think is the ideal ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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 alternative to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of options and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included really crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then might not charge you for actually buying and selling funds or etfs private commodities private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 before you in fact start investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really important to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling fine so commission costs are complimentary however there are a number of other charges the very first one is withdrawal charges so you can certainly put money in now if you remain 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 however when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state alright that’s quite expensive 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 simply one of 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 mostly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing however that is a fee to bear in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and say offer me us dollars instead you need to pay their fees now the excellent thing about though when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase 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 truly excellent using that part of their website will not certainly restrict you in any way however we need to be aware of two other fees the first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Bitboy Gif.
You are given 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 require.