Not actually having the total of capital…Bitboy Theta… so with anything that you’re discovering please do study the platform do not just presume 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 money they give that alternative as well so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own cash 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 purchasing genuine companies if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has actually stated they’ve made profit 14 months in a row buy these options because you think is the best ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can really say i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates if for example 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 likewise cover is the charges involved actually important you understand what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then may not charge you for actually buying and selling funds or etfs specific products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 understand before you really start buying copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with charges actually crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a number of other costs the first one is withdrawal costs so you can certainly 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 on but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those alternatives that they have a great deal of platforms obviously are free to do such things has this five 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 know depends completely how you’re investing but that is a fee to remember the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two open market anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually offering 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 thing about however when you’ve converted your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests 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 additional fees so that’s actually great utilizing that part of their site will not certainly limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bitboy Theta.
You are given lots of choices 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 select, then this might be precisely what you need.