Not really having the full amount of capital…Bitboy Crypto Face… so with anything that you’re learning about please do study the platform don’t just presume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk 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 investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row purchase these choices since you believe is the best ones for you and that being stated let’s dive straight 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 choice to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included really important you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge sites then may not charge you for really buying and selling funds or etfs individual products individual stocks.
there’ll be costs 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 costs with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees actually important to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission charges are totally free however there are a couple of other charges the very 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 automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you offer 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 obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those options that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing but that is a cost to bear in mind the second cost that i have actually touched upon is that conversion charge 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 anyhow 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 charge now when you use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact offering 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 provide me us dollars rather you have to pay their fees now the great feature of however when you’ve converted your cash you do not need to invest it immediately 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great using that part of their site won’t definitely restrict you in any way nevertheless we need to understand two other costs the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Bitboy Crypto Face.
You are offered lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to select, then this might be precisely what you need.