Not actually having the total of capital…Bitboy Idiot… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you actually get used to the structure of the website and after that 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 danger this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that individual has stated they’ve made revenue 14 months in a row buy these choices since you think is the best ones for you and that being said let’s dive straight 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 probably.
popular for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal 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 precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved actually crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero charge sites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 in fact start investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees truly crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling alright so commission fees are free nevertheless there are a couple of other charges the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling 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 ensure that i’m only withdrawing when i definitely require to now you might state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply one of those options that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends totally how you’re investing however that is a cost to keep in mind the second charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or 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 two and 2 free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they really offering 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 state provide me us dollars rather you need to pay their costs now the fantastic thing about however when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies 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 costs so that’s actually good using that part of their website won’t definitely restrict you in any way however we have to understand two other charges the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy Idiot.
You are offered numerous 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 might be precisely what you need.