Not really having the total of capital…Bitboy Crypto Morning Ta… so with anything that you’re learning about please do study the platform do not just assume since 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 money they consider that choice too so you actually get used 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 purchasing real companies if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has stated they have actually made earnings 14 months in a row invest in these choices due to the fact that you think is the right 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 most likely.
famous for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically 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 investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included actually critical you comprehend 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 buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then might not charge you for in fact buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees actually important to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission costs are free nevertheless there are a couple of other fees the first one is withdrawal charges so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum amount 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 make certain that i’m just withdrawing when i absolutely need to now you may state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those alternatives that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a cost to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine 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 anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they really 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 give me us dollars rather you have to pay their fees now the terrific thing about though when you have actually transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their site will not definitely restrict you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread fees alright and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bitboy Crypto Morning Ta.
You are offered numerous choices with this software 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 pick, then this may be precisely what you require.