Not in fact having the total of capital…Vitalik Buterin And Elon Musk… so with anything that you’re learning more about please do study the platform do not just assume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that person has said they have actually made profit 14 months in a row invest in these choices since you think is the best ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
popular for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can really say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means 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 fees involved truly important 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 absolutely no cost websites then might not charge you for actually buying and selling funds or etfs individual commodities private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you actually begin purchasing copy trading or copy portfolios and finally some finest advice 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 costs really important to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling all right so commission fees are free however there are a couple of other costs the very first one is withdrawal costs so you can clearly put cash 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 wish 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 five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of 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 6 months you understand depends completely how you’re investing but that is a charge to keep in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase 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 purchasing or perhaps some crypto so i’m good 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 two open market anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually offering 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 state offer me us dollars instead you need to pay their charges now the terrific aspect of however when you have actually transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their website won’t certainly restrict you in any way however we need to know two other charges the first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you Vitalik Buterin And Elon Musk.
You are offered lots of alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not understand which system to pick, then this might be exactly what you need.