Not really having the total of capital…Bitboy Youtube… so with anything that you’re learning about please do study the platform do not just presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row buy these choices due to the fact that you think is the best ones for you which being said let’s dive straight 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 belongs to social trading which is one aspect that is most likely.
popular for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included really important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost websites then may not charge you for in fact buying and selling funds or etfs individual products private stocks.
there’ll be costs on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to know prior to you in fact begin 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 begin with fees actually essential to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling all right so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can certainly put money in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may say okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you understand depends totally how you’re investing but that is a fee to bear in mind the second fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing 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 utilizing trading 2 and 2 free trade anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually offering you in regards to 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 give me us dollars rather you need to pay their costs now the excellent thing about though when you’ve transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent utilizing that part of their site won’t certainly restrict you in any way however we have to be aware of two other costs the very first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Youtube.
You are given numerous alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to pick, then this might be exactly what you require.