Not actually having the full amount of capital…Bitboy On Fox Business… so with anything that you’re learning about please do study the platform don’t just assume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that alternative also so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money 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 buying genuine companies if you select to in this specific video we’re discussing 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 because that person has actually said they’ve made profit 14 months in a row buy these options because you believe is the ideal ones for you and that being stated 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 most likely.
popular for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 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 likewise cover is the charges included really crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero cost sites then may not charge you for actually buying and selling funds or etfs private products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 know before you actually start buying copy trading or copy portfolios and lastly some best suggestions 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 fees really crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling alright so commission charges are free however there are a number of other charges the very first one is withdrawal costs so you can undoubtedly 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 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 five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say okay 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 costs are just among those alternatives that they have a lot of platforms obviously are 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 completely how you’re investing but that is a fee to remember the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they really giving 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 say give me us dollars rather you have to pay their fees now the terrific feature of however when you’ve converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the preliminary 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 costs so that’s really great using that part of their site will not certainly limit you in any way however we have to know 2 other fees the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy On Fox Business.
You are offered numerous choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to pick, then this might be precisely what you need.