Not actually having the total of capital…Bitboy Youtube Today… so with anything that you’re learning more about please do study the platform do not just assume since 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 consider that choice too so you actually get utilized to the structure of the site and then 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 risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they have actually made revenue 14 months in a row invest in these choices due to the fact that you think is the best ones for you which being stated let’s dive straight in [Music] 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 aspect that is probably.
famous for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state 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 suggests 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 fees involved actually critical you understand 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 a few of the no charge websites then may not charge you for really buying and selling funds or etfs individual products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 really start investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with fees actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission costs are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money 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 of course understanding 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 pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms clearly 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 as soon as every six months you know depends totally how you’re investing but that is a cost to bear in mind the 2nd fee that i’ve discussed is that conversion charge 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 buying and 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 utilizing trading two and two free trade anybody this is basic they have i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they actually giving you in terms of 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 say give me us dollars rather you need to pay their costs now the excellent aspect of though when you’ve converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase 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 actually good utilizing that part of their site will not certainly restrict you in any way however we have to be aware of 2 other costs the first being what’s called spread fees okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Youtube Today.
You are provided many options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to select, then this may be exactly what you require.