Not actually having the total of capital…Bitboy Crypto Facebook… so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you in fact get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has said they have actually made profit 14 months in a row purchase these choices since you believe is the right ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
well-known for it’s the choice 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 therefore that indicates with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests 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 likewise cover is the costs involved actually critical you understand what are the expenses of this now with any platform there will be some expense to certainly 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 zero fee sites then may not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and finally some finest recommendations finest 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 costs actually important to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission charges are complimentary however there are a number of other costs the first one is withdrawal costs so you can certainly put cash in now if you remain 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 however when you wish to withdraw your money so you sell your shares you offer your products 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 of course 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 expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends totally how you’re investing however that is a cost to remember the second cost 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 great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even 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 utilizing trading 2 and two free trade anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact 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 say provide me us dollars instead you need to pay their charges now the excellent thing about though when you have actually transformed your money you do not have to invest it right away that dollar worth can sit 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent using that part of their website won’t definitely restrict you in any way however we have to understand 2 other fees the very first being what’s called spread charges okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bitboy Crypto Facebook.
You are provided lots of options 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 may be precisely what you need.