Not really having the full amount of capital…Bitboy On Safemoon… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you really 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 obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the best ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included actually important 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 involved and even a few of the zero fee websites then might not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really important to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling fine so commission fees are complimentary nevertheless there are a number of other fees the very first one is withdrawal costs so you can clearly put cash in now if you’re 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 however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those options that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve discussed is that conversion fee 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 matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great 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 two free trade anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they in fact providing you in terms of 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 provide me us dollars instead you need to pay their charges now the terrific aspect of however when you have actually converted your cash you do not need to invest it right now 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their site won’t definitely limit you in any way however we need to be aware of two other fees the very first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy On Safemoon.
You are given many options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not know which system to select, then this might be precisely what you need.