Not really having the full amount of capital…Bitly Holdings… 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 immediately do some due diligence have a little play around with it even invest with virtual cash they consider 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 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 purchasing genuine companies if you choose to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something since that individual has actually stated they’ve made earnings 14 months in a row buy these options due to the fact that you believe is the ideal ones for you which being said let’s dive directly in [Music] The 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.
well-known for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really state i want to do precisely what that trader is doing or match that specific portfolio of options and basically every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for instance 10 of their financial 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 charges involved truly important you understand 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 buying the selling for you there’s going to be charges included and even some of the zero fee sites then may not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 before you actually start purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges really essential to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling alright so commission charges are complimentary however there are a number of other charges 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 automatically converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just one of those options 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 mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a charge to keep in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that fits 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 excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 state give me us dollars instead you have to pay their costs now the great thing about however when you have actually converted 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 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 additional charges so that’s actually excellent using that part of their website won’t certainly restrict you in any way however we have to know two other costs the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Bitly Holdings.
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 however do not understand which system to pick, then this might be precisely what you require.