Not actually having the total of capital…Bitboy Everdome… so with anything that you’re learning about please do study the platform do not just presume because 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 consider that option as well so you actually get used to the structure of the website and then when you’re ready to use 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 real business if you choose to in this particular video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row invest in these options due to the fact that you believe is the right ones for you and that being stated 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 becomes part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact state i wish 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 offer whatever they do your money will be mimicked with it so that means 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 also cover is the charges included really vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge sites then may not charge you for in fact buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 know prior to you really start buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with fees actually crucial to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission charges are complimentary however there are a couple of other fees the very first one is withdrawal costs so you can clearly put cash 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 but when you wish to withdraw your money so you sell 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 five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a fee to remember the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s great that fits me.
a lot 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 fee now when you utilize anyone so if you’re using trading two and 2 open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of need 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 giving 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 offer me us dollars rather you have to pay their costs now the fantastic thing about though when you have actually converted your money you do not need to invest it immediately that dollar value 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 extra charges so that’s truly great utilizing that part of their site won’t definitely limit you in any way however we need to be aware of two other costs the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Bitboy Everdome.
You are given many options with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to choose, then this might be exactly what you need.