Not really having the full amount of capital…Vitalik Buterin Alien… so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you really get utilized 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 danger this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row invest in these options since you think is the right 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 comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
famous for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they offer whatever they do your cash will be simulated 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 also cover is the costs included truly vital you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no fee sites then might not charge you for really buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees actually important to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling all right so commission fees are free however there are a number of other costs the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state alright 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 charges are simply one of those options that they have a great deal of platforms undoubtedly 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 when every six months you know depends entirely how you’re investing however that is a charge to bear in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really 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 need to pay their fees now the fantastic thing about though when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy 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 truly good utilizing that part of their site won’t definitely restrict you in any way however we have to be aware of 2 other costs the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Alien.
You are offered numerous alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this might be exactly what you require.