Not actually having the total of capital…Bitboy Crypto Podcast… so with anything that you’re learning more about please do study the platform don’t simply assume since 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 alternative as well so you actually get utilized to the structure of the site and then when you’re ready to use your own money 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 real business if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they have actually made revenue 14 months in a row purchase these options because you think is the ideal 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 element that is probably.
well-known for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for example 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 costs included actually important you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real companies 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 no charge websites then may not charge you for in fact buying and selling funds or etfs specific products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 know before you in fact start buying copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with fees really crucial to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling fine so commission charges are free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put cash 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 in the future however when you wish to withdraw your cash so you offer your shares you offer your commodities 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state all right that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of those options that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends completely how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that fits 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 good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually providing 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 instead you have to pay their fees now the fantastic thing about though when you have actually transformed your cash you do not have to invest it right now that dollar worth can sit 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 fees so that’s really good using that part of their site won’t certainly restrict you in any way however we have to understand 2 other costs the very first being what’s called spread charges fine and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy Crypto Podcast.
You are given lots of choices with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this may be precisely what you require.