Not really having the full amount of capital…Bitboy Toronto… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you in fact 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 naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually said they’ve made earnings 14 months in a row buy these options since you think is the best ones for you which being stated 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 most likely.
well-known for it’s the alternative to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for example 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 also cover is the costs included really crucial you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 some of the no charge sites then might not charge you for in fact buying and selling etfs or funds specific products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees 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 finally some best advice 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 charges really crucial to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission charges are complimentary however there are a couple of other charges the first one is withdrawal costs so you can clearly put cash in now if you remain 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 in the future however when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends totally how you’re investing however that is a fee to keep in mind the second cost that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway 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 charge now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there 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 offer me us dollars instead you need to pay their costs now the excellent thing about however when you’ve converted your money you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really good utilizing that part of their site will not certainly restrict you in any way however we need to know two other costs the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bitboy Toronto.
You are provided many alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to pick, then this may be precisely what you need.