Not in fact having the full amount of capital…Cryptocurrency Vitalik… so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get utilized 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 risk this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that individual has stated they’ve made earnings 14 months in a row invest in these choices because you think is the right ones for you and that being stated let’s dive straight 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 element that is most likely.
well-known for it’s the alternative to see what other traders are doing unbelievable 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 indicates with our money we can really say i wish to do precisely 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 money will be simulated with it so that implies 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 also cover is the charges included actually vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost sites then might not charge you for in fact buying and selling funds or etfs individual products 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 kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges really important to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal costs 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 later however when you wish to withdraw your money so you offer your shares you sell 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 definitely require to now you may state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends totally how you’re investing however that is a charge to bear in mind the second cost that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’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 charge now when you use anybody so if you’re using trading two and 2 free trade anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually providing 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 provide me us dollars rather you have to pay their charges now the fantastic feature of however when you’ve transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site won’t certainly restrict you in any way nevertheless we have to know two other costs the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Cryptocurrency Vitalik.
You are given lots of choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this might be exactly what you need.