Not actually having the total of capital…Bitboy Ben Armstrong… so with anything that you’re learning about please do study the platform do not simply presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that individual has said they’ve made revenue 14 months in a row purchase these choices because you believe is the best ones for you and that being said let’s dive directly 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 element that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests if for example 10 of their 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 included actually important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies 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 absolutely no charge websites then might not charge you for really buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with charges truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling alright so commission costs are free nevertheless there are a couple of other fees 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 instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you offer your shares you sell your commodities 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 absolutely require to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those options that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a charge to remember the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two free trade anybody this is basic they have i suppose stuck to 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 charge exists what are they really offering 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 provide me us dollars rather you have to pay their costs now the terrific thing about however when you’ve transformed 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 indicates the preliminary 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 additional costs so that’s actually good using that part of their site won’t definitely restrict you in any way however we need to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to show you Bitboy Ben Armstrong.
You are offered lots of alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not know which system to choose, then this may be exactly what you need.