Not really having the total of capital…Bitboy Crypto Business Insider… so with anything that you’re learning about please do study the platform do not just assume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that option too so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they have actually made earnings 14 months in a row purchase these options since you think is the right ones for you and that being stated 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.
famous for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included actually critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 some of the no charge sites then might not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 understand before you actually start buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges really crucial to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling fine so commission charges are free nevertheless there are a number of other costs the first one is withdrawal charges so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees 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 maybe even once a year when every 6 months you know depends totally how you’re investing but that is a charge to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great 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 great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really giving you in terms of 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 have to pay their fees now the terrific aspect of however when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really good utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bitboy Crypto Business Insider.
You are given numerous alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to pick, then this may be exactly what you require.