Not really having the total of capital…Bitboy News… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash 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 real business if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has actually stated they have actually made earnings 14 months in a row buy these choices because you think is the best ones for you which being said let’s dive directly in [Music] so 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 most likely.
famous for it’s the option to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests if for instance 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 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 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 zero cost sites then might not charge you for in fact buying and selling funds or etfs individual 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 reveal you the charges with in particular in this video the next would be things to know before you in fact begin investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs truly essential to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission fees are totally free however there are a couple of other costs the first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however 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 of course understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those alternatives that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a fee to bear in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and two free trade anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they really giving you in regards to 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 rather you need to pay their fees now the excellent aspect of however when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their site won’t certainly limit you in any way however we have to understand two other costs the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bitboy News.
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 but do not know which system to choose, then this might be precisely what you need.