Not really having the total of capital…Elon Musk Vitalik Buterin Twitter… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that 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 give that alternative too so you really get used to the structure of the website and then 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 real companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually said they have actually made earnings 14 months in a row invest in these choices since you believe is the ideal ones for you and that being stated let’s dive straight in [Music] so the important 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.
well-known for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included really vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering 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 know before you in fact start buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with fees really essential to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission charges are free however there are a number of other costs the first one is withdrawal fees so you can certainly 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 in the future however when you want to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those alternatives that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a charge to keep in mind the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits 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 cost now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually providing 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 offer me us dollars rather you have to pay their costs now the excellent thing about though when you’ve converted your cash you do not have to invest it right away that dollar worth can being 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 takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their site will not definitely limit you in any way however we have to understand two other charges the first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Elon Musk Vitalik Buterin Twitter.
You are provided numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this might be precisely what you need.