Not actually having the full amount of capital…Bitly Holdings… 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 right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row buy these choices because you believe 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests if for instance 10 of their investment portfolio is 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 actually vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies 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 no charge websites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with charges truly crucial to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission fees are totally free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can clearly put money in now if you’re 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 later however when you want to withdraw your cash so you offer 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 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing but that is a charge to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they actually 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 provide me us dollars instead you need to pay their costs now the great aspect of however when you have actually transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really great using that part of their website won’t certainly limit you in any way nevertheless we need to know two other fees the first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitly Holdings.
You are provided many alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to pick, then this might be precisely what you need.