Not actually having the full amount of capital…Ethereum Vitalik Buterin Twitter… so with anything that you’re learning more about please do study the platform don’t simply assume since 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 option also so you really get used to the structure of the website and then 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 buying genuine companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has actually said they have actually made earnings 14 months in a row purchase these options because you think is the right ones for you which being said let’s dive directly in [Music] 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.
popular for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates 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 costs included truly crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are real 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 no charge websites then may not charge you for in fact buying and selling funds or etfs individual products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you really begin buying copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really crucial to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling okay so commission fees are totally free however there are a number of other costs the first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you offer your shares you offer 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 just withdrawing when i definitely need to now you might state alright that’s quite expensive and i get that however 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 lot of platforms clearly are complimentary 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 keep in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and 2 free trade anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee 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 bargain with them you can’t go to the bank and say give me us dollars rather you need to pay their costs now the great thing about however when you have actually converted your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their website will not certainly limit you in any way however we need to understand 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Ethereum Vitalik Buterin Twitter.
You are provided numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this may be exactly what you require.