Not in fact having the total of capital…Bitboy Nft Wax… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you really get utilized 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 threat this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something since that person has actually stated they have actually made profit 14 months in a row purchase these options since you believe is the right ones for you and that being said 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 becomes part of social trading which is one aspect that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually state i want to do precisely what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked 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 cash in so we’re going to likewise cover is the costs involved truly critical you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero charge websites then may not charge you for really buying and selling funds or etfs specific products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 prior to you really start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs truly essential to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can undoubtedly put money in now if you remain 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 however when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount 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 just withdrawing when i absolutely require to now you may state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those alternatives that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a charge to bear in mind the second cost that i’ve discussed 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 fine that suits 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 excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually 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 offer me us dollars rather you have to pay their fees now the terrific thing about however when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent using that part of their site won’t definitely limit you in any way however we have to understand two other fees the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Nft Wax.
You are given numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this might be precisely what you require.