Not actually having the total of capital…Bitboy Crypto Youtube Stats… so with anything that you’re learning more about please do study the platform don’t simply presume because i use 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 give that choice also so you really get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not simply do something since that individual 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 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.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other benefit 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 specific portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates 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 charges included really critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 cost websites then might not charge you for in fact buying and selling funds or etfs private products specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 know prior to you in fact start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs actually crucial to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission fees are complimentary nevertheless there are a number of other costs the very 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 immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you might state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among those options that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing but that is a fee to remember the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow 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 charge now when you use anyone so if you’re using trading 2 and 2 open market anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact offering you in terms of 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 offer me us dollars instead you need to pay their costs now the great thing about however when you’ve transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good using that part of their site won’t certainly restrict you in any way however we need to know two other costs the very first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Bitboy Crypto Youtube Stats.
You are provided many choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to pick, then this may be exactly what you require.