Not in fact having the full amount of capital…Bitboy Xrp… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize 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 choice also so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have 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 purchase these options because you think is the ideal ones for you and that being said 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 belongs to social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever 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 charges involved truly important you understand what are the costs of this now with any platform there will be some cost to obviously 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 a few of the no cost websites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts possibly 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 fees with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with charges actually essential to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission charges are totally free nevertheless there are a number of other costs the very first one is withdrawal costs so you can obviously put money 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 on but when you want to withdraw your cash so you sell 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 of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing but that is a cost to keep in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow 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 cost now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they really providing you in terms of 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 say offer me us dollars instead you have to pay their costs now the terrific thing about however when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their site will not certainly restrict you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Xrp.
You are provided lots of options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this might be precisely what you require.