Not in fact having the full amount of capital…Bitboy Exchange… so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you actually 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 risk this is investing we’re doing you’re investing in genuine business if you select to in this specific 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’ve made earnings 14 months in a row invest in these choices because you believe is the best ones for you which 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 element that is most likely.
famous for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved really vital you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost sites then might not charge you for really buying and selling funds or etfs private commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 know prior to you actually start purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling fine so commission charges are free however there are a couple of other charges the first one is withdrawal costs so you can obviously put cash in now if you’re 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 wish to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those options that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a cost to remember the second fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 free trade anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they really providing 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 instead you have to pay their fees now the great thing about however when you’ve converted your money you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that means the preliminary 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 actually excellent using that part of their site won’t certainly limit you in any way nevertheless we have to understand 2 other fees the first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread cost as i’m going to show you Bitboy Exchange.
In general, traders who utilize EToro in Trading 212 will find it to be one of the best and most convenient platforms to use. You are given numerous options with this software application and you can configure it nevertheless you please. This makes it extremely flexible and user friendly. Plus, you get trading signals delivered right to you, which is a big plus. If you’re looking to start trading the forex market but don’t know which system to pick, then this may be precisely what you require.