Not actually having the total of capital…Vitalik Buterin Cat Purse… so with anything that you’re learning about please do study the platform do not just presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you actually get used 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 purchasing real companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that person has said they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is understanding 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 choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge websites then may not charge you for really buying and selling etfs or funds private commodities specific stocks.
there’ll be fees on other parts perhaps 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 charges with in particular in this video the next would be things to understand prior to you in fact begin buying copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs truly essential to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling alright so commission charges are complimentary nevertheless there are a number of other costs the very first one is withdrawal fees 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 offer 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 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those choices that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a fee to bear in mind the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody 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 wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving you in regards to 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 give me us dollars rather you need to pay their fees now the fantastic aspect of though when you’ve converted your cash 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 means the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great utilizing that part of their site won’t certainly restrict you in any way nevertheless we have to understand two other charges the very first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin Cat Purse.
You are given lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this may be exactly what you need.