Not in fact having the total of capital…Bitboy Crypto Xrp… so with anything that you’re learning more about please do study the platform do not simply presume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you actually get utilized to the structure of the site and after that when you’re ready to use your own cash 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 genuine business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that person has actually stated they have actually made profit 14 months in a row purchase these options because you think is the right 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 probably.
well-known for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for example 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 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 real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee sites then might not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 understand prior to you in fact begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs truly important to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling all right so commission costs are complimentary however there are a couple of other charges the first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer your shares you offer your products 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those options that they have a lot of platforms obviously are totally 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 once every 6 months you know depends entirely how you’re investing however that is a cost to remember the 2nd charge that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great 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 good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually providing 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 fees now the terrific feature of though when you have actually converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that means 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 additional costs so that’s really great using that part of their site will not certainly limit you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Crypto Xrp.
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