Not in fact having the total of capital…Vitalik Buterin Bitcoin Magazine… so with anything that you’re learning more about please do study the platform don’t just presume since 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 consider that alternative also so you really get utilized to the structure of the website and after that when you’re ready to utilize 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 buying genuine companies if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has actually said they have actually made earnings 14 months in a row purchase these options since you think is the ideal 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 most likely.
famous for it’s the choice to see what other traders are doing incredible 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 indicates with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for instance 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 also cover is the fees included truly vital you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies 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 zero cost websites then may not charge you for in fact buying and selling funds or etfs specific commodities private 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 sort of costs 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 know prior to you in fact start purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with costs really important to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling all right so commission costs are totally free however there are a number of other fees the very first one is withdrawal charges so you can obviously put cash in now if you remain 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 in the future however when you want to withdraw your cash so you sell your shares you offer your products 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a charge to keep in mind the second fee that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying 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 utilizing trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they actually 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 state provide me us dollars rather you have to pay their fees now the terrific aspect of however when you’ve transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or convert 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 really good using that part of their site will not definitely limit you in any way nevertheless we need to be aware of 2 other costs the very first being what’s called spread charges 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 Bitcoin Magazine.
You are provided lots of options with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to pick, then this may be precisely what you need.