Not really having the total of capital…Bitboy Founder… so with anything that you’re learning about please do study the platform do not simply presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you actually get used 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 obviously your capital is at danger this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually said they have actually made revenue 14 months in a row invest in these choices since you believe is the best ones for you and that being said let’s dive straight 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 probably.
well-known for it’s the alternative to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved truly vital you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 websites then might not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with costs truly essential to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling alright so commission costs are free nevertheless there are a couple of other costs the first one is withdrawal costs so you can undoubtedly 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 but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re offering 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 understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may 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 fees somewhere and withdrawal charges are simply among those options that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know depends completely how you’re investing however that is a fee to keep in mind the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact giving 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 rather you have to pay their costs now the excellent thing about however when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really good utilizing that part of their site will not certainly restrict you in any way nevertheless we need to know two other costs the very first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Bitboy Founder.
You are given many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this may be precisely what you require.