Not actually having the total of capital…Father Of Vitalik Buterin… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option too so you in fact get used to the structure of the website 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 buying real business if you pick to in this particular video we’re talking about how to copy other individuals’s 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 earnings 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you and that being said 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 belongs to social trading which is one element that is most likely.
well-known for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly 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 a few of the no charge websites then may not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 in fact begin investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly crucial to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling all right so commission charges are complimentary nevertheless there are a couple of other costs the very first one is withdrawal charges so you can obviously put cash 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 on but when you wish to withdraw your cash so you sell 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 five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those options that they have a lot of platforms certainly are free 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 once every six months you know depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 open market anyone at all this is standard they have i expect stuck to whatever fee they charge for that conversion rate you type of have 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 giving 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 say offer me us dollars rather you have to pay their fees now the terrific thing about however when you’ve transformed your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their site will not certainly restrict you in any way nevertheless we have to know two other costs the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Father Of Vitalik Buterin.
You are given many options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this might be exactly what you require.