Not really having the full amount of capital…Bitboy Luna… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option too so you actually get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being stated 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 aspect that is most likely.
famous for it’s the alternative to see what other traders are doing unbelievable we don’t 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 actually state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved really important you comprehend what are the costs 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 included and even a few of the no fee websites then may not charge you for actually buying and selling funds or etfs private commodities individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling all right so commission costs are totally free however there are a number of other costs the very first one is withdrawal costs so you can obviously put cash in now if you’re 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 on but when you wish to withdraw your money so you offer your shares you offer 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those choices that they have a lot of platforms obviously are totally 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 once every six months you know depends entirely how you’re investing but that is a charge to remember the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists 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 state offer me us dollars rather you need to pay their fees now the fantastic thing about however when you have actually converted your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means 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 extra costs so that’s really excellent utilizing that part of their site will not definitely restrict you in any way however we have to be aware of 2 other fees the first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bitboy Luna.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be exactly what you require.