Not really having the full amount of capital…Bitboy Fox News… so with anything that you’re discovering please do study the platform do not simply assume because i utilize it that you can use it right away 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 utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they have actually made revenue 14 months in a row invest in these options because you believe is the best ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for example 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 likewise cover is the charges included truly vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 a few of the zero cost websites then may not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 understand prior to you actually begin investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees truly crucial to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling fine so commission charges are free nevertheless there are a number of other costs the very first one is withdrawal costs so you can obviously put money 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 later but when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might state 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 costs someplace and withdrawal fees are simply one of those choices that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends entirely how you’re investing however that is a charge to bear in mind the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i expect stuck with whatever cost 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 giving 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 need to pay their charges now the terrific aspect of however when you have actually transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their site won’t definitely restrict you in any way however we have to know two other costs the very first being what’s called spread costs all right and i’m going to show you what i imply on now a spread charge as i’m going to show you Bitboy Fox News.
You are given many 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 understand which system to select, then this might be exactly what you need.