Not really having the total of capital…Bitboy Crypto Real Name… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice also so you actually get utilized to the structure of the site 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 risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re discussing how to copy other people’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 stated they have actually made revenue 14 months in a row purchase these options due to the fact that you think is the right ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
well-known for it’s the option to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates 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 also cover is the costs involved really critical you understand what are the costs of this now with any platform there will be some cost 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 private products individual 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 know prior to you really begin investing in copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with costs truly essential to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling okay so commission charges are free nevertheless there are a number of other charges the first one is withdrawal charges so you can obviously put money in now if you’re 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 later however when you wish to withdraw your money so you offer your shares you sell your commodities 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may say alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a cost to remember the 2nd fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of have 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 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 have to pay their charges now the great aspect of though when you have actually converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 great utilizing that part of their website will not definitely limit you in any way however we need to know 2 other fees the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Real Name.
You are provided many alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to pick, then this may be precisely what you require.