Not really having the total of capital…Bitboy Crypto Dogecoin… so with anything that you’re learning about please do study the platform don’t simply presume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you really get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat 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 certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has stated they have actually made revenue 14 months in a row buy these choices because you believe is the right ones for you and that being said let’s dive directly 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.
well-known for it’s the choice to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means 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 also cover is the costs involved really vital you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 zero charge websites then may not charge you for actually buying and selling funds or etfs specific 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 sort of costs 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 actually begin purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling fine so commission charges are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can obviously put money 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 want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those choices that they have a great deal of platforms undoubtedly are free 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 once every six 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 charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they actually providing you in regards to 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 give me us dollars instead you need to pay their costs now the terrific thing about though when you’ve converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy 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 truly good using that part of their site won’t certainly limit you in any way however we need to know 2 other charges the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread charge as i’m going to show you Bitboy Crypto Dogecoin.
You are given many alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this may be exactly what you need.