Not really having the full amount of capital…Bitboy Crypto Wrong… so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something since that individual has stated they have actually made earnings 14 months in a row invest in these options since you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing amazing 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 implies with our cash we can in fact state i want to do exactly what that trader is doing or match that exact 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 indicates if for example 10 of their investment portfolio remains 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 really critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 charge sites then may not charge you for in fact buying and selling etfs or funds specific commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you actually begin purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with costs really important to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling all right so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can obviously put cash in now if you remain 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 however when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those options that they have a lot of platforms undoubtedly 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 6 months you understand depends completely how you’re investing however that is a cost to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 free trade anybody this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually providing you in terms of 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 give me us dollars rather you have to pay their charges now the fantastic thing about however when you have actually transformed your money you do not need to invest it right now that dollar value can being 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 costs so that’s actually good utilizing that part of their site will not definitely restrict you in any way however we have to be aware of 2 other charges the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Crypto Wrong.
You are offered lots of alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to choose, then this may be exactly what you need.