Not in fact having the full amount of capital…Bitboy… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you really get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they’ve made revenue 14 months in a row invest in these options since you believe is the ideal ones for you and that 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 probably.
famous for it’s the alternative to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that means if for instance 10 of their financial investment portfolio remains 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 actually important you comprehend what are the costs of this now with any platform there will be some expense to obviously these are real 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 zero fee sites then may not charge you for in fact buying and selling etfs or funds private commodities private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 know prior to you in fact start buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with charges truly crucial to comprehend these now on there’s a number of fees there isn’t fees to do with really buying and selling fine so commission charges are totally free nevertheless there are a couple of other charges the first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want 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 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms clearly 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 totally how you’re investing but that is a charge to keep in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and 2 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 understand if you want to use their platform go from uk to us then that conversion charge exists what are they actually providing 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 give me us dollars rather you have to pay their costs now the terrific thing about however when you have actually converted your money you do not need to invest it right now that dollar worth 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their website will not definitely limit you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Bitboy.
You are provided numerous choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this may be exactly what you require.