Not really having the total of capital…Bitboy Xrp Settlement… so with anything that you’re learning about please do study the platform do not simply assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you really get used to the structure of the site and after that when you’re ready to utilize your own money 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 talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row purchase these choices because you think is the best ones for you and that 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 element that is most likely.
famous for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved truly important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no fee sites then may not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really crucial to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling all right so commission costs are free nevertheless there are a couple of other costs the first one is withdrawal charges so you can clearly put money 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 but when you want to withdraw your money so you sell your shares you offer your products 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those choices that they have a great deal 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 maybe even once a year when every 6 months you understand depends entirely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway 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 cost now when you use anyone so if you’re using trading two and two open market anyone at all this is standard they have actually i expect 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 really giving 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 say provide me us dollars instead you have to pay their costs now the fantastic feature of however when you’ve converted your money you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent utilizing that part of their website will not definitely limit you in any way nevertheless we have to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread fee as i’m going to show you Bitboy Xrp Settlement.
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