Not really having the full amount of capital…Bitboy Labs… so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative also so you really get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that person has actually stated they’ve made revenue 14 months in a row buy these options due to the fact that you think is the ideal ones for you and that being stated 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 aspect that is most likely.
popular for it’s the alternative to see what other traders are doing incredible 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 really say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests if for example 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 actually vital you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine companies 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 no cost sites then might not charge you for really buying and selling funds or etfs private commodities individual stocks.
there’ll be charges 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 reveal you the charges with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs actually important to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission charges are free however there are a number of other costs the very first one is withdrawal fees so you can clearly put cash 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 but when you wish to withdraw your cash so you sell your shares you sell 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 ensure that i’m only withdrawing when i definitely require to now you might state fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply among those options that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a cost to remember the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and 2 free trade anyone at all this is basic they have i suppose stuck with whatever charge 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 charge is there what are they really 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 provide me us dollars rather you need to pay their fees now the excellent aspect of though when you have actually transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as money 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 extra costs so that’s actually good using that part of their website won’t certainly limit you in any way however we need to be aware of two other costs the very first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bitboy Labs.
In general, traders who use EToro in Trading 212 will discover it to be one of the best and easiest platforms to use. You are provided numerous alternatives with this software application and you can configure it however you please. This makes it really versatile and easy to use. Plus, you get trading signals delivered right to you, which is a big plus. So, if you’re wanting to begin trading the forex market however do not know which system to select, then this might be precisely what you require.