Not in fact having the total of capital…Bitboy Toronto… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative also so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash 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 companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row invest in these choices because you believe is the best ones for you which being said let’s dive directly in [Music] so the important 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 element that is most likely.
famous for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of options and generally every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates 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 also cover is the costs involved actually vital you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost websites then might not charge you for actually buying and selling funds or etfs individual products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 understand prior to you really start buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with charges really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling okay so commission fees are free however there are a couple of other charges the very first one is withdrawal fees so you can clearly put cash 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 later however when you want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those options that they have a lot of platforms undoubtedly are totally free 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 when every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the 2nd charge that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they really providing 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 provide me us dollars instead you have to pay their costs now the fantastic aspect of though when you’ve converted your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their site will not definitely restrict you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Toronto.
You are given many options 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 select, then this may be exactly what you need.