Not actually having the total of capital…Bitboy Crypto Kennesaw… so with anything that you’re learning more about please do study the platform don’t simply presume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you in fact 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 obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row purchase these choices since you think is the ideal ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your money will be imitated 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 involved truly critical you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 a few of the no fee sites then might not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with fees actually crucial to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling alright so commission fees are totally free nevertheless there are a number of other charges the very first one is withdrawal costs so you can obviously 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 offer your commodities whatever you’re offering the minimum quantity 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 only withdrawing when i absolutely require to now you might state alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply one of those options that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing however that is a cost to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two open market anybody this is standard they have i expect stuck to 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 cost 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 say provide me us dollars rather you need to pay their charges now the great aspect of however when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies 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 extra charges so that’s truly excellent utilizing that part of their site won’t certainly restrict you in any way however we need to be aware of two other fees the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bitboy Crypto Kennesaw.
You are given many alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not know which system to pick, then this may be exactly what you need.