Not actually having the full amount of capital…Bitboy Token… 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 use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you really get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they’ve made earnings 14 months in a row invest in these options since you think is the best ones for you and that being said let’s dive straight in [Music] so the 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.
famous for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that implies 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 also cover is the charges involved actually crucial you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no charge sites then may not charge you for actually buying and selling funds or etfs private commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with fees really important to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling alright so commission charges are totally free however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put money 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 on but when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re offering 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 ensure that i’m just withdrawing when i absolutely need to now you might state all right that’s rather pricey 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 alternatives that they have a lot of platforms clearly 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 charge to bear in mind the second charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 utilize anyone so if you’re using trading two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever fee 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 charge 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 say give me us dollars instead you need to pay their costs now the excellent feature of however when you’ve converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial 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 truly excellent using that part of their website won’t definitely limit you in any way however we need to know 2 other costs the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Bitboy Token.
You are given lots of alternatives 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 know which system to pick, then this might be precisely what you require.