Not actually having the full amount of capital…Bitboy Crypto Linkedin… so with anything that you’re learning more about please do study the platform don’t simply presume because 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 money they consider that option also so you in fact get utilized to the structure of the site and after that 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 threat this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has stated they have actually made revenue 14 months in a row invest in these choices because you believe 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
famous for it’s the choice 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 money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that means 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 vital you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero cost websites then might not charge you for actually buying and selling funds or etfs specific products individual 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 type of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges truly essential to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling fine so commission fees are free however there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly 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 but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re offering 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 knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you know depends entirely how you’re investing but that is a charge to remember the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two free trade anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost 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 say provide me us dollars rather you have to pay their costs now the excellent thing about however when you’ve transformed your cash you do not need to invest it immediately 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 convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their website will not certainly restrict you in any way nevertheless we need to understand two other fees the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto Linkedin.
You are provided lots of alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to choose, then this may be precisely what you need.