Not in fact having the total of capital…Vitalik Buterin 2013… so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they have actually made revenue 14 months in a row purchase these choices since you think is the best ones for you which being said 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 belongs to social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means 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 likewise cover is the costs included really vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real business 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 websites then might not charge you for in fact buying and selling funds or etfs individual 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 show you the fees with in particular in this video the next would be things to know prior to you in fact begin purchasing copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges really essential to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling okay so commission charges are free however there are a couple of other fees the first one is withdrawal charges so you can certainly put cash in now if you’re 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 however when you want 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely 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 have to charge fees someplace and withdrawal costs are simply among those options that they have a lot of platforms undoubtedly are totally free 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 when every 6 months you understand depends entirely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering 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 state offer me us dollars instead you need to pay their charges now the excellent thing about though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash 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 fees so that’s truly good using that part of their website will not certainly limit you in any way nevertheless we need to understand 2 other fees the first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread fee as i’m going to show you Vitalik Buterin 2013.
You are provided lots of choices with this software application 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 select, then this might be precisely what you need.