Not actually having the total of capital…Bitboy On Youtube… so with anything that you’re discovering please do study the platform don’t simply assume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash 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 business if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row buy these choices due to the fact that you think is the right ones for you and that being said let’s dive straight 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 aspect that is most likely.
well-known for it’s the option to see what other traders are doing incredible 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 actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests 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 also cover is the fees involved truly vital 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 a few of the zero cost websites then might not charge you for really buying and selling funds or etfs specific products private stocks.
there’ll be costs on other parts maybe 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 reveal you the costs with in particular in this video the next would be things to know prior to you really start buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually crucial to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling all right so commission fees are complimentary however there are a number of other fees the very first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you sell your shares you sell 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that suits me.
a great deal 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 cost now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they in fact giving 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 terrific aspect of however when you have actually transformed 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 implies the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really great using that part of their site will not definitely limit you in any way nevertheless we need to know 2 other fees the very first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bitboy On Youtube.
You are given many options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to select, then this may be precisely what you require.