Not actually having the full amount of capital…Bitboy Crypto Podcast… so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you really get utilized to the structure of the site and after that when you’re ready to utilize 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 buying genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row buy these choices since you believe is the best ones for you which being said let’s dive directly 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 aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates 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 fees involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to certainly 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 a few of the absolutely no fee sites then may not charge you for really buying and selling etfs or funds individual commodities private 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 type of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with fees actually important to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling okay so commission fees are totally free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put cash in now if you’re 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 money so you sell your shares you offer your products whatever you’re selling 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 knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say 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 somewhere and withdrawal fees are simply one of those choices that they have a lot of platforms certainly are totally free 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 six months you know depends entirely how you’re investing however that is a cost to remember the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good 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 anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you kind 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 really offering 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 state offer me us dollars instead you need to pay their charges now the excellent aspect of however when you’ve converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial 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 additional charges so that’s actually good using that part of their site won’t certainly restrict you in any way nevertheless we have to understand 2 other charges the first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Bitboy Crypto Podcast.
You are offered lots of options 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 understand which system to pick, then this may be exactly what you need.