Not in fact having the full amount of capital…Bitboy Filecoin… so with anything that you’re finding out 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 money they give that alternative as well so you actually get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row invest in these choices since you believe is the best ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the choice to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially every time 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 cash in so we’re going to likewise cover is the costs included really vital you comprehend what are the costs of this now with any platform there will be some cost to obviously 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 websites then may not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 prior to 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 start your journey or your more advanced financier so let’s begin with costs truly important to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission fees are totally free nevertheless there are a couple of other charges the first one is withdrawal charges so you can clearly put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you offer your shares you offer your commodities 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you may say all right that’s quite 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 charges are just among those options that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you know depends totally how you’re investing but that is a fee to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches 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 excellent 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 2 open market anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really 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 say offer me us dollars instead you need to pay their costs now the fantastic thing about though when you’ve transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their site will not definitely restrict you in any way however we have to be aware of 2 other costs the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bitboy Filecoin.
You are provided numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this may be precisely what you need.