Not in fact having the total of capital…Bitboy Green Dot… so with anything that you’re learning more about please do study the platform don’t simply presume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you in fact get utilized 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 obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you choose 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 threat and we have to bear that in mind do not simply do something because that person has said they’ve made earnings 14 months in a row purchase these options since you believe 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 most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for instance 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 also cover is the fees involved truly vital you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no fee sites then might not charge you for really buying and selling funds or etfs specific commodities private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly important to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling okay so commission costs are complimentary nevertheless there are a couple of other charges the first one is withdrawal charges so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum amount 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 only withdrawing when i absolutely require to now you may say alright that’s rather expensive 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 among those choices that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends totally how you’re investing but that is a charge to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal 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 utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they actually 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 say give me us dollars instead you need to pay their costs now the great feature of however when you have actually transformed your money you do not have to invest it right away 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 transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Bitboy Green Dot.
You are provided lots of alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this may be exactly what you need.