Not really having the total of capital…Bitboy Luna… so with anything that you’re learning more about please do study the platform do not simply presume 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 choice too so you actually get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated let’s dive directly in [Music] so 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 element that is probably.
famous for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for example 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 also cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee websites then might not charge you for in fact buying and selling etfs or funds private products specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to understand before you actually start purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with charges really important to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling fine so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly put money in now if you’re 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 in the future however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re selling 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 make sure that i’m only withdrawing when i definitely require to now you might state alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those choices that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a fee to keep in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact 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 say offer me us dollars rather you have to pay their fees now the great aspect of though when you’ve converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their site will not certainly restrict you in any way however we have to understand 2 other fees the first being what’s called spread fees all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Luna.
You are offered 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 however don’t know which system to choose, then this might be precisely what you require.