Not actually having the total of capital…Bitboy Uniswap… so with anything that you’re discovering please do study the platform do not just presume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you actually get used 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 real companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made revenue 14 months in a row purchase these options because you think is the best ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
famous for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of options and basically every time they make a trade they buy they offer whatever they do your money will be simulated with it so that means 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 likewise cover is the charges involved actually vital you comprehend what are the costs of this now with any platform there will be some expense 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 absolutely no fee websites then might not charge you for actually buying and selling funds or etfs individual commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand before you in fact begin investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with costs truly essential to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling all right so commission fees are free however there are a couple of other fees the first one is withdrawal charges so you can obviously 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 in the future but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing but that is a cost to bear in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re handling 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 anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact giving 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 state offer me us dollars rather you have to pay their costs now the terrific thing about though when you have actually transformed 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 implies the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their site will not definitely restrict you in any way however we need to be aware of 2 other costs the very 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 Uniswap.
You are provided numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to pick, then this might be precisely what you require.