Not really having the total of capital…Bitboy Crypto Twitter… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you really 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 risk this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has actually said they have actually made earnings 14 months in a row invest in these options since you believe is the right ones for you which 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 becomes part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we don’t usually 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 cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for example 10 of their 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 involved truly vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real 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 no charge sites then might not charge you for in fact buying and selling funds or etfs specific products specific stocks.
there’ll be charges on other parts maybe 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 show you the costs with in particular in this video the next would be things to understand before you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with fees truly important to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling fine so commission costs are free however there are a number of other fees the very first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s instantly 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 products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those choices that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing however that is a fee to keep in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway 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 charge now when you use anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really providing 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 give me us dollars instead you have to pay their costs now the fantastic feature of however when you have actually transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase 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 really great utilizing that part of their site won’t definitely restrict you in any way nevertheless we need to understand 2 other charges the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Bitboy Crypto Twitter.
You are offered many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this might be exactly what you need.