Not really having the full amount of capital…Bitboy Meme… so with anything that you’re finding out about please do study the platform don’t just assume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative also so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row buy these options since you believe is the ideal ones for you which being said let’s dive directly 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 element that is probably.
well-known for it’s the option to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included really vital you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost sites then may not charge you for in fact buying and selling etfs or funds individual products individual 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 costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you actually begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really crucial to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling alright so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell 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 naturally understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those choices that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends totally how you’re investing however that is a charge to keep in mind the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good 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 2 open market anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really providing you in terms of 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 great thing about however when you’ve transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests 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 extra charges so that’s really excellent using that part of their website will not definitely limit you in any way nevertheless we need to know two other costs the first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Meme.
You are provided many options 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 choose, then this may be exactly what you need.