Not actually having the total of capital…Bitboy Latest… so with anything that you’re learning more about please do study the platform don’t just presume 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 give that alternative also so you actually get utilized to the structure of the site and after that when you’re ready to use your own money 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 companies if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row buy these options due to the fact that you think is the right ones for you which being stated let’s dive directly in [Music] The 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 aspect that is probably.
well-known for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial 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 charges included really critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee sites then may not charge you for really buying and selling etfs or funds specific products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 buying copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with fees really crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal costs 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 money so you offer 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 five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those choices that they have a lot of platforms obviously are complimentary 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 once every 6 months you know depends totally how you’re investing but that is a charge to bear in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that fits 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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they really giving 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 say offer me us dollars rather you need to pay their charges now the fantastic thing about though when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent utilizing that part of their site will not definitely limit you in any way however we have to know 2 other charges the very first being what’s called spread fees all right and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy Latest.
You are provided lots of alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this might be exactly what you require.