Not really having the total of capital…Bittboy Harmony One… so with anything that you’re learning about please do study the platform don’t just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option also so you really 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 danger this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re discussing how to copy other people’s financial investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they’ve made profit 14 months in a row purchase 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] 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 element that is most likely.
famous for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that means if for instance 10 of their financial 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 really crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero charge websites then might not charge you for really buying and selling funds or etfs specific products specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really important to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling alright so commission fees are complimentary however there are a couple of other charges the very first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s immediately 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 offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those choices that they have a lot of platforms obviously 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 as soon as every six months you understand depends entirely how you’re investing but that is a cost to remember the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps 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 utilizing trading 2 and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really offering you in terms of 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 give me us dollars instead you have to pay their charges now the great aspect of however when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial 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 costs so that’s actually great utilizing that part of their website will not certainly restrict you in any way however we need to know two other charges the first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Bittboy Harmony One.
You are given numerous options 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 know which system to choose, then this might be exactly what you need.