Not actually having the total of capital…Bitboy Crypto Reddit… so with anything that you’re finding out about please do study the platform do not simply presume 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 give that option also so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that individual has actually said they’ve made earnings 14 months in a row purchase these choices because you think is the ideal 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 belongs to social trading which is one element that is most likely.
well-known for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates 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 included actually important you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero charge websites then might not charge you for in fact buying and selling etfs or funds private commodities private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 understand prior to you in fact begin investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling all right so commission fees are free nevertheless there are a number of other costs the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you offer your shares you offer your products 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 of course knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those options that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact giving 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 offer me us dollars rather you need to pay their fees now the fantastic aspect of however when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial 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 additional costs so that’s really excellent utilizing that part of their site will not certainly limit you in any way nevertheless we need to know two other charges the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread charge as i’m going to show you Bitboy Crypto Reddit.
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 but do not understand which system to pick, then this may be precisely what you require.