Not really having the total of capital…Bitboy Xrp… so with anything that you’re discovering please do study the platform don’t just assume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you in fact get utilized to the structure of the website and after that when you’re ready to utilize 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 select to in this particular video we’re speaking about how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that individual has said they have actually made profit 14 months in a row buy these options due to the fact that you think is the ideal ones for you and that being stated let’s dive directly in [Music] so 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 aspect that is probably.
famous for it’s the option to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost websites then may not charge you for actually buying and selling etfs or funds individual commodities private stocks.
there’ll be fees 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 costs with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with fees truly important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling fine so commission fees are free however there are a couple of other fees the very first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might say fine that’s quite pricey 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 just one of those options that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they really giving 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 give me us dollars instead you need to pay their costs now the excellent feature of however when you’ve converted your money you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests 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 extra charges so that’s really great utilizing that part of their website won’t certainly limit you in any way nevertheless we need to understand 2 other charges the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Xrp.
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