Not really having the total of capital…Vitalik Buterin And Putin… so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i use 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 utilized 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 threat this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something because that person has said they’ve made revenue 14 months in a row buy these choices due to the fact that you think is the best ones for you and that 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 element that is probably.
famous for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates if for example 10 of their financial 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 involved truly vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no cost websites then might not charge you for actually buying and selling etfs or funds specific products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 know before you in fact begin purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with charges actually essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission fees are complimentary however there are a number of other charges the first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk money.
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 sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those options that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know depends completely how you’re investing but that is a charge to remember the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches 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 great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they really giving 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 provide me us dollars instead you have to pay their costs now the great thing about though when you have actually transformed your cash you do not need to invest it immediately that dollar worth 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 costs so that’s truly great using that part of their site will not certainly limit you in any way however we need to be aware of two other fees the first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin And Putin.
You are given lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to select, then this might be exactly what you need.