Not really having the total of capital…Bitboy Crypto Xrp… so with anything that you’re finding out about please do study the platform don’t simply assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that option also so you actually 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 of course your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re discussing how to copy other people’s 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 stated they’ve made profit 14 months in a row purchase these choices because you think is the ideal ones for you and that being said let’s dive straight in [Music] so 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 aspect that is probably.
famous for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for instance 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 truly important you comprehend what are the expenses of this now with any platform there will be some cost to obviously 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 zero fee websites then may not charge you for actually buying and selling etfs or funds individual commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to understand prior to you actually start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually essential to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling fine so commission charges are complimentary nevertheless there are a number of other charges the first one is withdrawal costs 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 cash so you sell your shares you sell your commodities 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those options that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends totally how you’re investing however that is a fee to remember the second fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 free trade anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they in fact offering 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 say provide me us dollars instead you have to pay their charges now the great feature of however when you’ve transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy 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 truly good using that part of their website will not certainly limit you in any way however we have to understand 2 other costs the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Bitboy Crypto Xrp.
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