Not in fact having the total of capital…Bitboy Merchandise… so with anything that you’re learning more about please do study the platform do not simply assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you actually 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 naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made earnings 14 months in a row purchase these choices because you think is the ideal ones for you which being said 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 aspect that is most likely.
well-known for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially each time 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 investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included truly critical you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge websites then may not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand before you actually start investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges truly important to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling all right so commission costs are totally free however there are a couple of other fees the first one is withdrawal costs so you can certainly 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 on however when you wish to withdraw your cash so you offer your shares you sell your commodities 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 of course understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms certainly are totally 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 as soon as every 6 months you understand depends totally how you’re investing however that is a cost to remember the second cost that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two open market anybody this is standard they have i expect stuck to whatever fee 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 in fact 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 state give me us dollars rather you have to pay their fees now the excellent aspect of though when you have actually converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good using that part of their site won’t definitely restrict you in any way nevertheless we have to understand two other charges the first being what’s called spread costs okay and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Merchandise.
You are provided numerous options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this may be precisely what you require.