Not in fact having the total of capital…Bitboy Height… so with anything that you’re discovering please do study the platform do not just presume 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 alternative also so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine business if you choose to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually stated they’ve made revenue 14 months in a row purchase these choices because you think is the ideal ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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 alternative to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for example 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 likewise cover is the costs included truly vital 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 buying the selling for you there’s going to be charges involved and even some of the zero cost websites then might not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering 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 know before you in fact start buying copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with fees actually important to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling fine so commission costs are complimentary nevertheless there are a couple of other charges the very first one is withdrawal costs so you can clearly put cash in now if you remain 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 later however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those choices that they have a great deal of platforms undoubtedly are totally 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 when every 6 months you understand depends totally how you’re investing however that is a cost to remember the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative 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 purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all 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 want to utilize their platform go from uk to us then that conversion cost exists what are they actually offering 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 state provide me us dollars rather you need to pay their fees now the fantastic feature of however when you’ve 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 indicates the preliminary 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 additional charges so that’s really great utilizing that part of their site will not definitely limit you in any way nevertheless we have to be aware of two other fees the first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you Bitboy Height.
You are offered many options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to select, then this may be exactly what you need.