Not actually having the full amount of capital…Bitboy Kusama… so with anything that you’re learning about please do study the platform don’t simply presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative also so you in fact get used 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 threat this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has actually said they have actually made profit 14 months in a row purchase these options since you believe is the right ones for you which being said let’s dive straight 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 element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that implies if for example 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 fees included truly critical you understand what are the expenses of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for in fact buying and selling funds or etfs specific commodities 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 kinds of charges 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 start buying copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with fees really crucial to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission charges are complimentary however there are a number of other costs the first one is withdrawal fees so you can clearly put money 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 wish to withdraw your cash so you sell 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 obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state fine 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 charges are just one of those options that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing but that is a fee to remember the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have 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 terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say provide me us dollars instead you need to pay their fees now the fantastic feature of though when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy 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 good utilizing that part of their site won’t definitely limit you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Kusama.
You are offered lots of alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not understand which system to choose, then this might be precisely what you require.