Not actually having the full amount of capital…Bitboy Xrp News… so with anything that you’re finding out about please do study the platform don’t just assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you in fact get used to the structure of the site and then 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 real companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that individual has stated they have actually made revenue 14 months in a row buy these choices due to the fact that you believe is the best ones for you and that being said let’s dive straight in [Music] 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.
popular for it’s the choice to see what other traders are doing extraordinary we don’t generally 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 really say i want to do exactly what that trader is doing or match that exact portfolio of options and generally every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates if for example 10 of their 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 costs included actually vital you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business 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 charge sites then may not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact begin investing in copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees really crucial to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission costs are free however there are a number of other fees the very first one is withdrawal costs so you can certainly put money in now if you remain 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 but when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those options that they have a lot of platforms undoubtedly are totally free 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 completely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 open market anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they actually 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 give me us dollars instead you have to pay their fees now the great thing about however when you’ve transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great using that part of their site won’t definitely limit you in any way however we have to be aware of two other fees the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Bitboy Xrp News.
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