Not actually having the full amount of capital…Tj Bitboy Crypto Instagram… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option too 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 naturally your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something since that individual has actually stated they have actually made revenue 14 months in a row purchase these choices due to the fact that you think is the best ones for you which being said 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing amazing we don’t usually 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 in fact say i wish to do precisely what that trader is doing or match that exact portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates 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 charges involved truly crucial you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for actually buying and selling etfs or funds specific products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with charges really essential to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling all right so commission costs are totally free however there are a number of other costs the very first one is withdrawal charges so you can obviously put cash in now if you’re 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 later on however when you wish to withdraw your cash so you sell 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 five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those options that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing however that is a fee to keep in mind the second fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they actually offering 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 state provide me us dollars rather you have to pay their fees now the great feature of though when you have actually transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their site won’t 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 show you what i mean on now a spread charge as i’m going to reveal you Tj Bitboy Crypto Instagram.
You are provided lots of alternatives 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 choose, then this might be precisely what you require.