Not actually having the full amount of capital…Bitboy Fox Business… so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger 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 invest in these choices since you think is the right ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can really state i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for instance 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 fees involved truly vital you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee websites then may not charge you for in fact buying and selling etfs or funds individual products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with charges actually crucial to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling alright so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can undoubtedly 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 later on but when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say 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 costs are simply one of 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 maybe even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a charge to remember the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that matches 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 great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind 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 offering 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 state provide me us dollars rather you have to pay their fees now the excellent feature of however when you have actually converted your money you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests 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 truly excellent using that part of their site will not definitely restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread charges all right and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Bitboy Fox Business.
You are given lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this might be exactly what you require.