Not in fact having the full amount of capital…Bitboy Twitter… so with anything that you’re learning about please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give 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 of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually stated they have actually made earnings 14 months in a row purchase these options due to the fact that you believe is the best ones for you and that being stated 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 choice to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your cash will be imitated 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 likewise cover is the fees included actually important you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 fee websites then might not charge you for really buying and selling etfs or funds specific commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 actually start buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with charges really essential to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission fees are complimentary however there are a couple of other charges the very first one is withdrawal charges so you can clearly 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 in the future but when you want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may state okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those options that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a cost to bear in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway 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 utilizing trading 2 and 2 open market 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 know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact giving 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 give me us dollars instead you need to pay their costs now the terrific thing about though when you have actually converted your cash you do not have 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 purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their website won’t definitely limit you in any way however we need to know two other charges the first being what’s called spread fees fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Twitter.
You are given numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to choose, then this might be exactly what you require.