Not in fact having the total of capital…Bitboy Crypto Fox News… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash 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 buying genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has stated they’ve made revenue 14 months in a row purchase these options since you think is the ideal ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually say i want to do precisely what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their financial 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 fees involved really crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee sites then might not charge you for actually buying and selling etfs or funds 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 charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with costs truly essential to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling okay so commission costs are complimentary nevertheless there are a couple of other charges the first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 but when you wish to withdraw your money so you offer your shares you sell your products 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 of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those options that they have a great deal of platforms certainly are totally 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 as soon as every 6 months you know depends completely how you’re investing but that is a cost to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they actually 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 provide me us dollars rather you need to pay their charges now the excellent aspect of though when you have actually transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial 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 fees so that’s actually great utilizing that part of their website won’t certainly limit you in any way nevertheless we need to know two other charges the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Bitboy Crypto Fox News.
You are offered lots of alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not understand which system to choose, then this might be precisely what you require.