Not actually having the total of capital…Bitboy Wiki… so with anything that you’re learning about please do study the platform don’t just presume since 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 option as well so you really get used to the structure of the website 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 threat this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually said they have actually made profit 14 months in a row purchase these choices because you believe 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 understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies 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 fees included really crucial you comprehend 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 included and even some of the absolutely no charge websites then might not charge you for in fact buying and selling etfs or funds individual products individual stocks.
there’ll be charges on other parts possibly 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 costs with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges really important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling all right so commission fees are free however there are a number of other costs the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just one of those choices that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends totally how you’re investing however that is a cost to remember the 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there 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 offer me us dollars instead you have to pay their costs now the great feature of though when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great using that part of their site won’t certainly limit you in any way nevertheless we need to know 2 other fees the first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Wiki.
You are provided lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to select, then this may be exactly what you need.