Not actually having the full amount of capital…Bitboy Fox Business… so with anything that you’re discovering please do study the platform do not simply presume 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 as well so you really get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has said they have actually made earnings 14 months in a row buy these options due to the fact that you think is the right ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
well-known for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests if for example 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 charges involved truly crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies 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 charge websites 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 possibly 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 show you the charges 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 finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with costs truly essential to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling all right so commission costs are complimentary however there are a number of other fees the very first one is withdrawal charges so you can undoubtedly put cash in now if you remain 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 later however when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those options that they have a great deal of platforms certainly 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 when every six months you understand depends totally how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they in fact providing 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 say provide me us dollars instead you have to pay their fees now the fantastic thing about though when you’ve transformed your money you do not have to invest it right now 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 buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site will not definitely limit you in any way however we need to know two other charges the very first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bitboy Fox Business.
You are provided numerous alternatives 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 pick, then this might be precisely what you need.