Not actually having the full amount of capital…Bitboy Nashville Meetup… so with anything that you’re learning more about please do study the platform don’t simply assume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really 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 risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we need 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 purchase these options since you think is the best ones for you which being stated let’s dive directly 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 probably.
famous for it’s the choice to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included really critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine 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 cost sites then might not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be costs on other parts maybe 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 show you the costs with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with costs actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling fine so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal fees so you can certainly 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 in the future but when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say 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 costs somewhere and withdrawal fees are just among those choices that they have a lot of platforms clearly are complimentary 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 cost to remember the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great 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 two free trade anyone at all this is basic they have actually i expect 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 actually giving 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 say provide me us dollars rather you need to pay their costs now the terrific aspect of however when you have actually transformed your money you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their site won’t certainly restrict you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Bitboy Nashville Meetup.
You are given many choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to choose, then this may be precisely what you require.