Not actually having the total of capital…Bitboy Discord… so with anything that you’re learning more about please do study the platform don’t simply 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 alternative as well so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money 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 business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row purchase these choices due to the fact that you think is the right ones for you which 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 aspect that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary we do not generally 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 money we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means 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 fees included actually critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 some of the zero charge websites then might not charge you for in fact buying and selling etfs or funds specific commodities private 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 sort of costs 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 know before you really start purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with charges really important to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling okay so commission charges are complimentary nevertheless there are a couple of other costs the first one is withdrawal fees so you can undoubtedly put cash 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 later on however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re offering 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 ensure that i’m only withdrawing when i definitely need to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those options that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing however that is a cost to keep in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact providing 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 give me us dollars rather you need to pay their charges now the great aspect of however when you’ve transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests 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 extra fees so that’s actually excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand 2 other costs the very first being what’s called spread charges alright and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Discord.
You are provided numerous choices 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 choose, then this may be precisely what you require.