Not actually having the total of capital…Bitboy Get… so with anything that you’re learning more about please do study the platform do not just assume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you really get used 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 risk this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row invest in these options since you believe is the ideal ones for you which being said 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’s part of social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a great deal 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 want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for instance 10 of their 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 fees involved really crucial you comprehend what are the costs 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 some of the absolutely no fee sites then might not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 really begin purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees actually crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling fine so commission costs are totally free however there are a number of other charges the first one is withdrawal charges so you can undoubtedly 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 however when you wish to withdraw your money 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those alternatives that they have a lot of platforms undoubtedly are free 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 as soon as every six months you understand depends entirely how you’re investing however that is a fee to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow 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 charge now when you use anybody so if you’re using trading 2 and two open market anybody this is basic they have actually i expect stuck with whatever fee 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 fee exists what are they in fact providing you in regards to 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 give me us dollars instead you have to pay their costs now the excellent thing about though when you have actually transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash 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 occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their site will not certainly limit you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Bitboy Get.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not know which system to choose, then this may be precisely what you need.