Not actually having the full amount of capital…Bitboy On Xrp… so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row purchase these choices due to the fact that you believe is the best ones for you which being stated let’s dive directly 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 element that is most likely.
well-known for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests if for example 10 of their financial 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 fees included actually vital you understand what are the expenses of this now with any platform there will be some expense to obviously 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 a few of the zero charge sites then may not charge you for actually buying and selling etfs or funds specific commodities individual 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 type of costs 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 before you really start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with charges really important to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling okay so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly put cash in now if you remain 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 in the future but when you want to withdraw your money so you offer your shares you offer 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 might state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those alternatives that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’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 anybody so if you’re using trading 2 and two free trade anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 say give me us dollars instead you have to pay their costs now the fantastic feature of though when you have actually converted your money you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of 2 other charges the first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy On Xrp.
You are provided numerous options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this might be precisely what you need.