Not actually having the total of capital…Bittboy Harmony One… so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative also 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 risk this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row buy these choices since you think is the ideal ones for you which being stated let’s dive straight 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 aspect that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t generally 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 state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically 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 instance 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 critical you understand 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 purchasing the selling for you there’s going to be charges included and even some of the zero fee sites then may not charge you for really buying and selling funds or etfs private products private 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 charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees actually crucial to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling all right so commission charges are complimentary however there are a couple of other charges the very first one is withdrawal charges so you can obviously put cash in now if you remain 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 in the future however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure 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 charges are simply among those choices that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a charge to remember the second fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually offering you in regards to 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 rather you need to pay their charges now the terrific thing about though when you’ve converted your cash you do not need to invest it right now that dollar worth can sit 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 takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great utilizing that part of their site won’t certainly restrict you in any way however we need to be aware of two other charges the first being what’s called spread fees fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Bittboy Harmony One.
You are provided numerous 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 don’t understand which system to pick, then this might be precisely what you need.