Not in fact having the total of capital…Bitboy Crypto Email Address… so with anything that you’re discovering please do study the platform do not simply assume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you actually get utilized to the structure of the website and after that 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 genuine business if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually said they’ve made earnings 14 months in a row buy these choices because you think is the best ones for you which being stated 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.
well-known for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially each time 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 financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included actually vital you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business 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 no cost websites then may not charge you for actually buying and selling funds or etfs private commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 prior to you actually start investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with costs actually important to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission fees are totally free however there are a number of other fees the first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling 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 sure that i’m only withdrawing when i absolutely require to now you may state all right that’s quite 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 charges are just among those options 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 mainly it can be maybe even once a year once every six months you know depends entirely how you’re investing however that is a fee to keep in mind the second cost that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 free trade anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they really providing 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 say provide me us dollars rather you need to pay their charges now the excellent thing about however when you have actually converted your cash you do not need to invest it immediately 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really good using that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread fees fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Bitboy Crypto Email Address.
You are given numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to pick, then this might be precisely what you require.