Not in fact having the full amount of capital…Bitboy Everdome… so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you really get used to the structure of the site and then 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 real companies if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row invest in these options since you believe is the best ones for you and that being said 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.
famous for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash 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 cash in so we’re going to also cover is the charges involved really important you understand what are the expenses of this now with any platform there will be some cost to certainly 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 absolutely no cost sites then might not charge you for actually buying and selling etfs or funds individual commodities private 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 sort of costs 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 in fact begin purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling all right so commission fees are complimentary nevertheless there are a couple of other costs the first one is withdrawal fees so you can undoubtedly put cash 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 however when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a charge to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind 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 in fact giving you in terms of 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 feature of however when you have actually transformed your cash you do not have 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 initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their website won’t definitely restrict you in any way nevertheless we need to understand 2 other costs the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Everdome.
You are offered 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 understand which system to pick, then this may be precisely what you need.