Not actually having the total of capital…Bitboy Hbar… so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really get used to the structure of the site 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 buying genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they have actually made revenue 14 months in a row invest in these choices since you believe is the ideal ones for you which being said 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’s part of social trading which is one element that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary 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 indicates with our cash we can really say i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved actually critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge sites then may not charge you for actually buying and selling funds or etfs private products specific 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 kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs truly essential to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling okay so commission fees are totally free nevertheless there are a couple of other costs the first one is withdrawal costs so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s instantly 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 sell 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 understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say okay 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 someplace and withdrawal charges are simply one of those options that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a charge to remember the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits 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 fee now when you use anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really giving you in regards to 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 provide me us dollars rather you have to pay their charges now the great thing about though when you have actually converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash 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 fees so that’s really excellent utilizing that part of their website will not definitely limit you in any way nevertheless we have to understand two other costs the first being what’s called spread costs okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy Hbar.
You are given numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not understand which system to pick, then this may be precisely what you require.