Not really having the full amount of capital…Bittboy Game… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you actually get used to the structure of the website and then 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 particular video we’re talking about how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually said they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the best 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary 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 indicates with our cash we can actually say i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that suggests if for instance 10 of their financial 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 charges involved actually vital you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge websites then may not charge you for in fact buying and selling funds or etfs specific products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you actually start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs truly crucial to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling fine so commission charges are complimentary nevertheless there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want 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 five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those choices that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
a great deal 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 anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually offering you in regards to 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 instead you have to pay their charges now the terrific feature of though when you’ve transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their website will not definitely restrict you in any way nevertheless we have to know two other charges the very first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bittboy Game.
You are given many options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not understand which system to choose, then this might be precisely what you require.