Not in fact having the total of capital…Bitboy Height… so with anything that you’re discovering please do study the platform do not just presume since 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 consider that choice also so you in fact get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something because that person has said they’ve made earnings 14 months in a row invest in these options due to the fact that you think is the right ones for you which being stated let’s dive directly in [Music] so the 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 most likely.
popular for it’s the choice to see what other traders are doing incredible we do not generally 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 in fact state i want to do precisely what that trader is doing or match that specific portfolio of options and basically every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included actually critical you understand what are the costs of this now with any platform there will be some cost 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 some of the absolutely no cost websites then might not charge you for actually buying and selling etfs or funds individual commodities specific stocks.
there’ll be costs on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs truly crucial to understand these now on there’s a couple of fees there isn’t charges to do with really buying and selling alright so commission costs are totally free however there are a number of other fees the very first one is withdrawal costs so you can certainly 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 in the future but when you want 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 knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might 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 charges are simply one of those choices that they have a great deal of platforms obviously are complimentary 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 6 months you know depends completely how you’re investing however that is a fee to keep in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow 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 charge now when you utilize anyone so if you’re using trading two and two open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually providing 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 say provide me us dollars rather you have to pay their charges now the terrific feature of though when you have actually transformed your money you do not have 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 convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great using that part of their website won’t definitely limit you in any way nevertheless we have to know two other fees the first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Bitboy Height.
You are provided numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to select, then this may be precisely what you require.