Not in fact having the full amount of capital…Bitboy On Dogecoin… so with anything that you’re finding out about please do study the platform don’t just assume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you really get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that person has stated they have actually made earnings 14 months in a row buy these options because you think is the best ones for you which being said let’s dive directly 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 most likely.
well-known for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio is 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 really vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge sites then may not charge you for in fact buying and selling etfs or funds 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 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 know prior to you really begin investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with fees actually important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling okay so commission fees are totally free however there are a couple of other costs the first one is withdrawal fees so you can obviously put cash in now if you’re 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 on however when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely 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 need to charge costs someplace and withdrawal costs are just among those choices that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing but that is a charge to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 open market anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of have 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 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 state offer me us dollars instead you need to pay their charges now the great feature of however when you’ve converted your money you do not have to invest it right now that dollar worth 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 charges so that’s actually great using that part of their website won’t certainly limit you in any way however we have to understand 2 other costs the very first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bitboy On Dogecoin.
You are given 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 select, then this might be precisely what you require.