Not actually having the total of capital…Bitboy Crypto Nashville… so with anything that you’re discovering please do study the platform do not just assume since i use 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 consider that option also so you in fact get used 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has stated they’ve made earnings 14 months in a row buy these options due to the fact that you think is the right ones for you which being said let’s dive straight in [Music] so the important 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 alternative to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that suggests if for example 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 likewise cover is the fees involved actually vital you understand what are the costs 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 charge sites then might not charge you for really buying and selling funds or etfs private commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and finally some best advice best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with charges actually crucial to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission charges are free however there are a number of other costs the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state all right 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 someplace and withdrawal costs are simply among those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends totally how you’re investing but that is a fee to remember the 2nd fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two free trade anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really providing 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 state provide me us dollars rather you need to pay their charges now the fantastic thing about though when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their website won’t certainly limit you in any way however we have to be aware of 2 other charges the first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread charge as i’m going to show you Bitboy Crypto Nashville.
You are offered numerous choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not understand which system to choose, then this may be precisely what you require.