Not in fact having the total of capital…Bitboy Crypto Fox News… so with anything that you’re finding out about please do study the platform don’t just assume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row buy these options since you think is the best ones for you which being stated let’s dive straight in [Music] so the important 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 most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means 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 essentially every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included truly crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with fees actually crucial to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling fine so commission fees are complimentary nevertheless there are a number of other fees the very first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state all right that’s quite expensive 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 alternatives that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a charge to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great 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 cost now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering 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 say provide me us dollars rather you need to pay their costs now the great thing about though when you’ve converted your money you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent utilizing that part of their website won’t certainly restrict you in any way however we have to understand 2 other charges the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Fox News.
You are offered many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to select, then this might be precisely what you need.