Not actually having the total of capital…Bitboy Crypto Xlm… so with anything that you’re learning about please do study the platform don’t simply presume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you actually get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something because that person has actually stated they’ve made profit 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being stated let’s dive straight in [Music] so the 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 aspect that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies 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 costs included truly crucial you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then may not charge you for really buying and selling funds or etfs private products specific stocks.
there’ll be charges on other parts perhaps 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 actually start buying copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees truly important to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling okay so commission costs are totally free however there are a couple of other costs the first one is withdrawal charges so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you sell your products 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 sure that i’m only withdrawing when i absolutely require to now you might say all right that’s rather pricey and i get that but 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 choices that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway 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 anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really 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 state provide me us dollars instead you have to pay their fees now the great feature of though when you’ve transformed 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 indicates the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really good utilizing that part of their website won’t certainly limit you in any way however we have to know two other fees the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bitboy Crypto Xlm.
You are given many options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to pick, then this might be exactly what you need.