Not really having the total of capital…Bitboy Crypto Discord Server… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that option too so you in fact 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 obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something since that individual has stated they have actually made profit 14 months in a row invest in these options since you think is the right ones for you and that being stated let’s dive straight 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 aspect that is most likely.
famous for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then may not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts maybe 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 show you the charges with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly important to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling fine so commission charges are totally free however there are a couple of other charges the very first one is withdrawal fees so you can certainly put money in now if you remain 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 in the future but when you want to withdraw your money so you offer your shares you sell 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely 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 bear in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and two free trade anybody this is basic they have actually i expect stuck to whatever charge 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 charge is there what are they really 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 provide me us dollars rather you need to pay their fees now the terrific thing about though when you have actually converted your money you do not need to invest it right now that dollar value can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent utilizing that part of their site will not certainly limit you in any way however we have to understand 2 other fees the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bitboy Crypto Discord Server.
You are offered numerous choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this might be exactly what you need.