Not actually having the full amount of capital…Bitboy Logo… so with anything that you’re learning more about please do study the platform do not simply assume 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 money they give that choice as well so you actually get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row buy these options due to the fact that you think is the right ones for you and that being said let’s dive directly 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.
famous for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved really crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost sites then may not charge you for really buying and selling funds or etfs 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 show you the charges with in particular in this video the next would be things to understand before you in fact start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission fees are totally free nevertheless there are a couple of other costs the first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you offer your shares you offer your products 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 ensure that i’m just withdrawing when i absolutely need to now you may say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those options that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends completely how you’re investing however that is a fee to remember the second fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just 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 even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee 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 say give me us dollars rather you need to pay their charges now the great aspect of though when you’ve transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests 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 additional costs so that’s really excellent using that part of their website will not certainly restrict you in any way however we have to know 2 other fees the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Bitboy Logo.
You are offered 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 don’t understand which system to select, then this may be precisely what you need.