Not really having the total of capital…Bitboy On Safemoon… so with anything that you’re finding out about please do study the platform do not just assume since i utilize 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 also so you really 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 naturally your capital is at threat this is investing we’re doing you’re buying real business 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 danger and we need to bear that in mind do not just do something because that individual has said they’ve made revenue 14 months in a row buy these options because you think is the right ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing unbelievable 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 means with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that implies if for instance 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 also cover is the fees involved really critical you comprehend what are the costs of this now with any platform there will be some expense to clearly 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 cost websites then might not charge you for actually buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges truly crucial to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling all right so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal fees so you can obviously put money in now if you remain 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 later on however when you want to withdraw your cash so you offer 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 of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say okay that’s rather 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 simply among those options that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you know depends totally how you’re investing however that is a fee to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway 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 charge now when you utilize anyone so if you’re using trading two and two open market anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact giving 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 instead you need to pay their fees now the excellent thing about however when you’ve converted your cash 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 indicates 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 charges so that’s actually great utilizing that part of their website won’t certainly restrict you in any way nevertheless we have to know 2 other charges the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy On Safemoon.
You are offered numerous choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to select, then this might be exactly what you need.