Not really having the full amount of capital…Bittboy J2Me… so with anything that you’re learning more about please do study the platform don’t just assume since i utilize it that you can use it right away 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 website 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 risk this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something because that individual has stated they have actually made profit 14 months in a row buy these choices since you think is the right ones for you which being stated let’s dive directly in [Music] so the 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 probably.
popular for it’s the alternative to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially every 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 is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved actually critical you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then might not charge you for really buying and selling etfs or funds private products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 really start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually important to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling okay so commission costs are free however there are a couple of other fees the first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling 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 only withdrawing when i absolutely need to now you may say okay that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply one of those choices that they have a great deal of platforms undoubtedly are complimentary 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 as soon as every six months you understand depends totally how you’re investing however that is a charge to bear in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that fits 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 good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using 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 type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 give me us dollars instead you need to pay their fees now the terrific thing about though when you have actually converted your cash you do not need 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 purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Bittboy J2Me.
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 but do not know which system to choose, then this may be exactly what you require.