Not in fact having the total of capital…Bitboy Interview… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you actually get utilized 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 danger this is investing we’re doing you’re buying real business if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row buy these choices since you believe is the best ones for you which being stated let’s dive directly 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 element that is most likely.
well-known for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually say i want to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included truly important you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies 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 cost sites then may not charge you for really buying and selling funds or etfs private products individual 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 sort of charges 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 begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs really important to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling fine so commission costs are totally free however there are a couple of other costs the very first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you sell your shares you offer 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 knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those alternatives that they have a great deal of platforms obviously are 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 completely how you’re investing however that is a charge to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they actually offering you in terms of 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 have to pay their fees now the fantastic feature of however when you have actually transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 fees so that’s really good utilizing that part of their website won’t definitely restrict you in any way however we need to be aware of 2 other costs the very first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Bitboy Interview.
You are provided lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this might be precisely what you need.