Not in fact having the total of capital…Bitboy Crypto Vet… so with anything that you’re discovering please do study the platform do not simply presume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row invest in these options due to the fact that you believe is the right ones for you and that being said let’s dive straight 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates 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 costs included actually vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real 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 no cost websites then may not charge you for really buying and selling etfs or funds private commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 begin purchasing copy trading or copy portfolios and lastly some finest advice best 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 costs actually important to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission fees are free however there are a couple of other fees the first one is withdrawal costs so you can certainly put cash 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 in the future however when you want to withdraw your money so you sell your shares you offer your commodities 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may state alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those alternatives that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends entirely how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits 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 great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two free trade anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact giving 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 say offer me us dollars instead you need to pay their charges now the terrific feature of however when you have actually converted your money 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 indicates the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent using that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of 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 cost as i’m going to reveal you Bitboy Crypto Vet.
You are provided numerous choices 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.