Not really having the total of capital…Bboy Phantom… so with anything that you’re learning more about please do study the platform do not just presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that option too so you really get used 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 naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re talking about how to copy other individuals’s 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 individual has actually said they’ve made profit 14 months in a row purchase these choices since you believe is the best ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we don’t typically 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 money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their financial 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 fees involved truly important you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine 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 absolutely no fee sites then might not charge you for actually buying and selling etfs or funds individual products specific 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 sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you actually begin investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with charges truly crucial to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling alright so commission costs are totally free however there are a couple of other fees the first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you offer 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state all right that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those options that they have a lot of platforms undoubtedly 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 as soon as every 6 months you understand depends completely how you’re investing but that is a cost to remember the second cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 open market anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really providing 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 state offer me us dollars instead you have to pay their fees now the great aspect of though when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that means 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 good using that part of their site will not certainly limit you in any way however we need to understand 2 other fees the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you Bboy Phantom.
You are provided lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not know which system to pick, then this may be exactly what you need.