Not actually having the total of capital…Bitboy Crypto Morning Ta… so with anything that you’re learning about please do study the platform do not just presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally 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 people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they have actually made revenue 14 months in a row invest in these options because you believe is the ideal 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 understanding 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 option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually state i want to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved really critical you understand what are the costs of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge sites then might not charge you for actually buying and selling funds or etfs specific commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 prior to you actually start purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges truly crucial to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission costs are free however there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put money 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 on however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those choices that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing however that is a cost to keep in mind the second charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and state offer me us dollars rather you need to pay their fees now the excellent feature of though when you have actually transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their site won’t definitely restrict you in any way however we have to understand 2 other fees the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto Morning Ta.
You are provided lots of alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this might be exactly what you need.