Not actually having the total of capital…Bitboy Crypto Ben Armstrong… so with anything that you’re learning more about please do study the platform don’t just assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that option too so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own cash 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 genuine business if you select 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 simply do something since that person has stated they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being said 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 choice to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they buy they sell whatever they do your cash will be simulated 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 likewise cover is the charges included truly important you understand 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 included and even some of the zero fee sites then might not charge you for actually buying and selling funds or etfs individual commodities private 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 kinds of charges 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 understand before you really start buying copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with costs truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling fine so commission charges are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you offer your shares you sell your products 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 of course knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state fine that’s rather expensive 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 alternatives that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends totally how you’re investing however that is a fee to bear in mind the second cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that fits 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 good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of need 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 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 give me us dollars rather you need to pay their charges now the great aspect of however when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their site won’t certainly limit you in any way however we have to be aware of 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Crypto Ben Armstrong.
You are provided lots of choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be exactly what you require.