Not actually having the full amount of capital…Vitalik Buterin Dancing… so with anything that you’re learning more about please do study the platform don’t simply assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that option also so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row invest in these options due to the fact that you believe is the right ones for you and that being said let’s dive straight in [Music] so the 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 aspect that is most likely.
popular for it’s the choice to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates 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 likewise cover is the charges included truly vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then may not charge you for in fact buying and selling etfs or funds specific products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand prior to you in fact begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges actually crucial to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling okay so commission fees are free however there are a number of other costs the first one is withdrawal fees so you can undoubtedly put money 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 later on but when you want to withdraw your money so you offer your shares you offer your commodities 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 of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those choices that they have a great deal 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 6 months you understand depends completely how you’re investing however that is a cost to keep in mind the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact 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 instead you need to pay their charges now the great feature of however when you have actually converted your cash you do not need to invest it right now that dollar value can sit 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 happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their site will not definitely limit you in any way nevertheless we need to be aware of two other costs the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Vitalik Buterin Dancing.
You are given numerous choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this might be precisely what you require.