Not really having the total of capital…Bitboy Logo… so with anything that you’re learning about please do study the platform don’t simply presume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option too so you really 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 threat this is investing we’re doing you’re investing in genuine companies if you pick 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 threat and we have to bear that in mind do not simply do something because that individual has said they’ve made profit 14 months in a row buy these options because you believe is the right ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable 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 implies with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that means if for example 10 of their investment portfolio is 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 actually crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero charge websites then may not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with charges really important to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission fees are free however there are a number of other charges the very first one is withdrawal fees so you can undoubtedly 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 offer your products whatever you’re selling 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 definitely need to now you may say alright 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 fees are simply among those alternatives that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends totally how you’re investing but that is a charge to keep in mind the second cost that i have actually 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 anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 open market anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there 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 have to pay their costs now the fantastic thing about though when you have actually converted your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent using that part of their site will not certainly restrict you in any way however we have to understand 2 other charges the very first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Logo.
You are offered lots of alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this may be exactly what you need.