Not actually having the total of capital…Bitboy Uniswap… so with anything that you’re discovering 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 consider that alternative too 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 naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has actually stated they’ve made earnings 14 months in a row purchase these options because you believe is the right ones for you and that being stated let’s dive straight 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 most likely.
famous for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests if for instance 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 involved really crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for really buying and selling funds or etfs individual products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 begin purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs really important to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling fine so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s automatically 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 offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those choices that they have a lot of platforms certainly are totally free 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 once every 6 months you know depends entirely how you’re investing however that is a fee to bear in mind the 2nd fee that i have actually discussed is that conversion fee now with you’re handling us dollars only 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 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 2 and two open market anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact offering you in regards to 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 say offer me us dollars rather you need to pay their costs now the terrific thing about though when you’ve converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 really good using that part of their site will not definitely restrict you in any way nevertheless we have to know 2 other costs the first being what’s called spread costs alright and i’m going to show you what i suggest on now a spread cost as i’m going to show you Bitboy Uniswap.
You are given numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this might be exactly what you require.