Not actually having the total of capital…Bitboy Ethereum… so with anything that you’re discovering please do study the platform do not simply presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option also so you actually get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row buy these choices due to the fact that you think is the right ones for you and that being said let’s dive directly 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 becomes part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved actually critical you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs individual products specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 really begin purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really important to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission costs are totally free however there are a couple of other charges the very first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those options that they have a lot of platforms undoubtedly are totally free 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 as soon as every six months you understand depends totally how you’re investing but that is a cost to remember the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually offering 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 offer me us dollars instead you need to pay their charges now the fantastic thing about though when you have actually converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests 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 really excellent utilizing that part of their website will not certainly limit you in any way however we have to be aware of 2 other charges the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Ethereum.
You are given numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this might be precisely what you require.