Not really having the full amount of capital…Bitboy Ada… so with anything that you’re learning about please do study the platform don’t simply presume since i use it that you can utilize it immediately 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 used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row buy these options because you believe is the right ones for you and that being stated let’s dive directly in [Music] so 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 choice to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial 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 involved really important you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 a few of the no fee sites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you really begin purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs truly essential to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission charges are complimentary however there are a couple of other charges the first one is withdrawal charges so you can undoubtedly put cash 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 in the future however when you want to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say alright 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 great deal of platforms undoubtedly are complimentary 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 6 months you know depends completely how you’re investing however that is a fee to keep in mind the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they really providing you in terms of 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 offer me us dollars instead you have to pay their charges now the great thing about however when you’ve transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their website will not definitely restrict you in any way nevertheless we have to understand two other costs the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Ada.
You are given 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 don’t understand which system to pick, then this may be precisely what you need.