Not actually having the full amount of capital…Bitboy Crypto Idiot… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you actually get used 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has stated they’ve made earnings 14 months in a row purchase these options because you think is the right ones for you and that being said let’s dive straight 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 probably.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked 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 cash in so we’re going to likewise cover is the costs included really crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine 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 no charge websites then might not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 prior to you actually begin investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs really essential to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling okay so commission charges are complimentary however there are a number of other fees the first one is withdrawal charges so you can certainly put cash 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 later on however when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely 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 need to charge fees someplace and withdrawal charges are just one of those options that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they in fact providing 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 converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really great utilizing that part of their site will not certainly limit you in any way nevertheless we need to know two other charges the first being what’s called spread charges all right and i’m going to show you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Idiot.
You are given lots of options with this software application 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 pick, then this might be exactly what you need.