Not really having the total of capital…Bitboy Age… so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that i use it that you can use 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 used 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 risk this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they have actually made profit 14 months in a row purchase these choices due to the fact that you believe is the right ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they buy they sell 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 likewise cover is the charges involved truly important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then may not charge you for really buying and selling funds or etfs specific products specific 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 type of costs 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 know before you actually begin purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission charges are complimentary however there are a couple of other fees the very first one is withdrawal costs so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount 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 certain that i’m just withdrawing when i absolutely require to now you may say alright that’s rather costly and i get that however 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 certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends completely how you’re investing but that is a charge to keep in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy 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 perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 free trade anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really providing 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 provide me us dollars rather you have to pay their costs now the fantastic thing about though when you’ve converted your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 charges so that’s truly good utilizing that part of their website will not certainly limit you in any way nevertheless we need to understand two other costs the very first being what’s called spread costs alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Bitboy Age.
You are offered lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to choose, then this might be precisely what you need.