Not in fact having the total of capital…Bitboy Kusama… so with anything that you’re learning more about please do study the platform don’t simply assume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row purchase these options because you think is the right ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
well-known for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for instance 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 charges involved really crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly 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 absolutely no charge sites then might not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be fees on other parts perhaps 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 reveal you the charges with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with costs truly important to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling all right so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity 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 sure that i’m only withdrawing when i absolutely require to now you might say alright that’s quite pricey 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 just among those options 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 largely it can be perhaps even once a year as soon as every six months you know depends totally how you’re investing but that is a fee to keep in mind the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent 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 open market anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they really offering 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 state offer me us dollars instead you need to pay their charges now the great feature of however when you’ve converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent utilizing that part of their site will not 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 fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Kusama.
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 but do not understand which system to pick, then this may be exactly what you require.