Not in fact having the full amount of capital…Bittboy Real Name… so with anything that you’re learning about please do study the platform don’t just assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you in fact get utilized to the structure of the website and then 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 danger this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row purchase these choices because you think is the ideal ones for you which being stated let’s dive directly 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 aspect that is probably.
well-known for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved really important you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine business 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 fee websites then may not charge you for really buying and selling funds or etfs private commodities specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 really begin purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with costs really important to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling all right so commission fees are totally free however there are a couple of other costs the very first one is withdrawal costs so you can undoubtedly put cash 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 later but when you want to withdraw your money 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 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might state okay 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 fees are just among those options that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a cost to keep in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually offering 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 feature of however when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates 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 costs so that’s truly excellent utilizing that part of their site won’t definitely restrict you in any way nevertheless 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 fee as i’m going to show you Bittboy Real Name.
You are given lots of choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to pick, then this might be exactly what you need.