Not really having the full amount of capital…Bitboy Pluto Alliance… so with anything that you’re finding out about please do study the platform do not just assume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re discussing 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 simply do something because that person has stated they’ve made revenue 14 months in a row invest in these options because you believe is the ideal ones for you and that being said 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 element that is probably.
popular for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a lot 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 want to do exactly what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for example 10 of their 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 critical you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 may not charge you for in fact buying and selling etfs or funds specific commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees actually essential to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling alright so commission charges are free however there are a couple of other charges the first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms clearly 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 when every six months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i expect stuck to whatever cost 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 really 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 say offer me us dollars instead you need to pay their costs now the fantastic feature of though when you’ve transformed your money you do not have to invest it right away that dollar worth can being in your portfolio as money 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 fees so that’s actually good using that part of their website won’t definitely limit you in any way however we need to know 2 other costs the first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Pluto Alliance.
You are offered numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be exactly what you require.