Not actually having the full amount of capital…Bittboy J2Me… so with anything that you’re learning more about please do study the platform don’t simply presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well 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 of course your capital is at risk this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row invest in these options due to the fact that you believe is the best 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 most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved really vital you comprehend what are the expenses of this now with any platform there will be some cost 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 a few of the no fee sites then might not charge you for really buying and selling etfs or funds specific products individual 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 kinds of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and lastly some best recommendations 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 fees actually crucial 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 charges are totally free however there are a couple of other fees the very first one is withdrawal fees 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 later on however when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might say all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends totally how you’re investing but that is a charge to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow 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 cost now when you use anybody so if you’re using trading two and two free trade anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact 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 provide me us dollars rather you need to pay their charges now the great aspect of though when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good using that part of their site won’t certainly restrict you in any way however we need to know two other charges the first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bittboy J2Me.
You are offered many choices with this software 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 pick, then this might be exactly what you require.