Not actually having the total of capital…Bitboy Ripple… 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 money they give that option 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 obviously your capital is at threat this is investing we’re doing you’re buying genuine business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that individual has stated they have actually made earnings 14 months in a row purchase these options because you think is the ideal ones for you and that being said let’s dive directly 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 most likely.
well-known for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really say i want to do precisely what that trader is doing or match that precise portfolio of options and generally every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved truly vital you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for actually buying and selling funds or etfs private products private 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 fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you actually start investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with fees actually essential to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission charges are free however there are a number of other fees the very first one is withdrawal charges so you can certainly 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 later but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those alternatives that they have a great deal 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 maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps 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 using trading two and two open market anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 fees now the excellent thing about though when you’ve converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy Ripple.
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