Not actually having the total of capital…Bitboy Crypto Safemoon… so with anything that you’re finding out about please do study the platform do not 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 money they consider that option as well so you in fact get used 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 naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually stated they’ve made profit 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you and that being stated 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 element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included truly crucial you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies 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 in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 before you actually start investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges actually important to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling all right so commission charges are complimentary nevertheless there are a couple of other costs the first one is withdrawal fees 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 but when you wish to withdraw your money 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 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those choices that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a fee to keep in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only 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 purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually 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 state give me us dollars instead you need to pay their charges now the fantastic thing about however when you’ve transformed 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 initial day that you purchase 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 actually good utilizing that part of their site will not certainly restrict you in any way however we need to be aware of 2 other costs the very first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Bitboy Crypto Safemoon.
You are offered numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this may be exactly what you require.