Not really having the total of capital…Bitboy Crypto Wallet Address… so with anything that you’re learning more about please do study the platform do not just presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you actually get used to the structure of the site and then 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 buying genuine companies if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row purchase these choices because you think is the right ones for you and that being stated let’s dive straight in [Music] so 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.
famous for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of options and generally every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that implies 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 costs involved really critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee sites then might not charge you for in fact buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts maybe 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 reveal you the costs with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and lastly some finest suggestions finest 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 truly important to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission charges are free nevertheless there are a couple of other charges the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you offer your products 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 of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those choices that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends totally how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to purchase 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 good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two free trade anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 state provide me us dollars rather you have to pay their charges now the fantastic feature of however when you’ve converted your money you do not need to invest it right away 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really great using that part of their site will not definitely limit you in any way nevertheless we have to understand two other costs the first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Bitboy Crypto Wallet Address.
You are provided numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this might be exactly what you need.