Not really having the full amount of capital…Bitboy Market Cipher… so with anything that you’re finding out about please do study the platform don’t simply presume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you in fact get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you and that being said let’s dive directly in [Music] so the important 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 probably.
popular for it’s the option to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of options and basically each time they make a trade they purchase they sell whatever they do your money will be imitated 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 money in so we’re going to also cover is the charges involved actually critical you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost websites then might not charge you for in fact buying and selling etfs or funds private products private 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 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 know before you actually start investing in 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 advanced investor so let’s start with costs actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends completely how you’re investing however that is a charge to keep in mind the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they actually giving you in terms of 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 provide me us dollars instead you need to pay their costs now the terrific aspect of however when you have actually transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial 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 charges so that’s truly great utilizing that part of their website won’t certainly limit you in any way nevertheless we have to be aware of 2 other costs the very first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Market Cipher.
Overall, traders who use EToro in Trading 212 will discover it to be among the very best and most convenient platforms to use. You are provided numerous choices with this software application and you can configure it nevertheless you please. This makes it very versatile and easy to use. Plus, you get trading signals delivered right to you, which is a huge plus. If you’re looking to begin trading the forex market however don’t understand which system to select, then this may be exactly what you require.