Not in fact having the full amount of capital…Bitboy Crypto Interview… so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you in fact get used to the structure of the site 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 danger this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the best ones for you which being said let’s dive straight 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 aspect that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies if for instance 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 likewise cover is the fees involved really crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for actually buying and selling funds or etfs private products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs really essential to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling alright so commission fees are totally free however there are a number of other fees the very first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you offer 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms obviously 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 when every six months you understand depends totally how you’re investing however that is a fee to remember the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really giving 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 provide me us dollars instead you need to pay their fees now the excellent aspect of however when you have actually transformed your money you do not need to invest it right away 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really great using that part of their site won’t certainly limit you in any way however we have to know two other fees the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you Bitboy Crypto Interview.
You are offered numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to pick, then this may be precisely what you require.