Not really having the total of capital…Bitboy Everdome… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you actually get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real business if you select to in this particular video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something because that person has said they have actually made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you and that being stated let’s dive directly in [Music] so the important 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 aspect that is probably.
popular for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates 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 included really important you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for really buying and selling etfs or funds private commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing 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 really start buying copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges really crucial to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling fine so commission costs are complimentary however there are a couple of other charges the first one is withdrawal costs so you can clearly put money in now if you remain 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 however when you want to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 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 state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a fee to remember the second charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that suits 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 great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and 2 open market anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee 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 say give me us dollars instead you need to pay their fees now the fantastic thing about though when you have actually transformed your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests 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 charges so that’s actually good using that part of their website will not definitely restrict you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy Everdome.
You are provided many alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not know which system to pick, then this may be precisely what you need.