Not actually having the full amount of capital…Bitboy Giveaway… 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 right away do some due diligence have a little play around with it even invest with virtual money they give that choice too so you actually 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 obviously your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually said they’ve made earnings 14 months in a row invest in these choices since you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the important 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 probably.
popular for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other benefit 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 precise portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your money will be imitated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved really critical you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost websites then might not charge you for actually buying and selling funds or etfs private commodities private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 understand before you actually begin purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs truly essential to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling all right so commission costs are free however there are a couple of other fees the first one is withdrawal costs so you can obviously put cash 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 in the future but when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might say 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 fees someplace and withdrawal fees are simply among those choices 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 mainly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing but that is a fee to bear in mind the 2nd cost that i have actually discussed 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 fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact giving you in terms of 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 provide me us dollars rather you need to pay their charges now the fantastic feature of however when you have actually converted 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 suggests the preliminary 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 additional costs so that’s actually excellent using that part of their site will not certainly limit you in any way nevertheless we have to know 2 other charges the very first being what’s called spread fees alright and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Giveaway.
You are provided many alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t understand which system to select, then this might be precisely what you require.