Not actually having the full amount of capital…Bitboy Xrp… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine 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 clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row invest in these options due to the fact that 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 element that is probably.
popular for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included truly crucial you comprehend what are the costs 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 involved and even some of the absolutely no fee websites then might not charge you for actually buying and selling etfs or funds private commodities individual 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 know prior to you really begin purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with charges actually crucial to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling alright so commission charges are complimentary however there are a number of other charges the very 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 instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state 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 costs someplace and withdrawal fees are just one of those choices that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends entirely how you’re investing however that is a cost to remember the second fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing 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 using trading 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind 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 really offering you in regards to 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 provide me us dollars instead you have to pay their fees now the great feature of though when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 fees so that’s truly great using that part of their site will not definitely restrict you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread charge as i’m going to show you Bitboy Xrp.
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