Not in fact having the full amount of capital…Bitboy Banned… so with anything that you’re finding out about please do study the platform don’t simply presume since 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 give that alternative as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk 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 investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something because that person has said they have actually 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 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 aspect that is probably.
popular for it’s the alternative to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for example 10 of their financial investment portfolio is 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 critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly 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 a few of the absolutely no fee sites then may not charge you for really buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with costs really crucial to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission charges are totally free nevertheless there are a number of other costs the very first one is withdrawal charges so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state okay that’s quite pricey 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 one of those options that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy 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 purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and 2 open market anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand 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 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 have to pay their costs now the excellent aspect of however when you’ve transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies 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 charges so that’s truly good using that part of their website won’t certainly limit you in any way nevertheless we have to know two 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 Bitboy Banned.
You are given lots of choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to pick, then this may be precisely what you need.