Not in fact having the total of capital…Bitboy Age… so with anything that you’re discovering please do study the platform don’t just presume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you really get utilized to the structure of the site and after that when you’re ready to use 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 buying genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that person has said they’ve made earnings 14 months in a row purchase these options because you think is the right ones for you and that being said 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.
popular for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for instance 10 of their financial 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 important you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real 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 sites then may not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 understand prior to you really begin buying copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with costs really essential to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling okay so commission fees are free however there are a number of other charges the first one is withdrawal charges so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say alright that’s rather 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 costs are just one of those choices that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends completely how you’re investing but that is a fee to bear in mind the second fee that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or 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 using trading two and 2 open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually 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 have to pay their charges now the fantastic feature of however when you have actually transformed your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 costs so that’s truly good utilizing that part of their website will not certainly restrict you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Bitboy Age.
You are given many options 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 understand which system to choose, then this may be exactly what you need.