Not really having the total of capital…Bitboy Everdome… so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option as well so you in fact get utilized to the structure of the website and after that when you’re ready to use your own cash 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 real companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something since that individual has actually said they’ve made earnings 14 months in a row invest in these options due to the fact that you think is the best ones for you which 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 aspect that is probably.
famous for it’s the option to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved truly critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs individual products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with fees truly essential to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling okay so commission fees are complimentary however there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you offer 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 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may state 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 someplace and withdrawal charges are just one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know depends completely how you’re investing however that is a fee to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they actually 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 give me us dollars rather you need to pay their costs now the great aspect of however when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their website will not certainly limit you in any way nevertheless we need to be aware of 2 other charges the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread charge as i’m going to show you Bitboy Everdome.
You are offered lots of choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however do not understand which system to pick, then this might be exactly what you need.