Not really having the total of capital…Bitboy Bitcoin Logo… so with anything that you’re learning more about please do study the platform don’t just assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you really get utilized to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row invest in these choices since you believe is the best 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 most likely.
famous for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates 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 fees involved really important you understand what are the costs 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 involved and even a few of the no fee sites then may not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 before you in fact begin buying 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 advanced investor so let’s begin with fees really important to comprehend these now on there’s a number of fees there isn’t charges to do with in fact buying and selling all right so commission costs are free nevertheless there are a couple of other charges the first one is withdrawal costs so you can certainly put cash in now if you’re 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 wish to withdraw your cash so you offer your shares you offer your products 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 of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a great deal of platforms obviously are totally free 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 six months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd cost that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches 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 excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have i suppose stuck with whatever fee 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 actually giving 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 give me us dollars instead you have to pay their fees now the terrific aspect of however when you’ve transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or convert 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 really good utilizing that part of their site will not definitely limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Bitcoin Logo.
You are given many options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to choose, then this may be exactly what you require.