Not really having the full amount of capital…Vitalik Buterin Born… 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 use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you in fact get used 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 of course your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has stated they have actually made revenue 14 months in a row buy these options since you believe is the right ones for you and that being stated let’s dive directly 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 most likely.
famous for it’s the alternative to see what other traders are doing amazing we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really state i wish to do precisely what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for instance 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 charges involved really crucial you understand what are the costs of this now with any platform there will be some cost to obviously 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 charge sites then might not charge you for actually buying and selling etfs or funds individual commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 really begin buying copy trading or copy portfolios and finally some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with costs really crucial to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling alright so commission charges are complimentary nevertheless there are a couple of other costs the very first one is withdrawal fees so you can certainly put cash in now if you’re 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 offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those options that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends entirely how you’re investing however that is a cost to keep in mind the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge 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 state provide me us dollars rather you need to pay their costs now the terrific thing about however when you’ve converted your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good utilizing that part of their website will not definitely restrict you in any way however we have to know 2 other charges the first being what’s called spread fees 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 Born.
You are offered numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to pick, then this might be exactly what you need.