Not actually having the full amount of capital…Vitalik Buterin Diet… so with anything that you’re finding out about please do study the platform do not simply presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you actually get used to the structure of the site and after that 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 risk this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something because that person has said they’ve made revenue 14 months in a row invest in these options since you think 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 understanding what is copy trading what are copy portfolios it’s 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 unbelievable we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates 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 likewise cover is the costs included actually critical you understand what are the costs of this now with any platform there will be some cost to clearly 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 a few of the no charge websites then may not charge you for really buying and selling etfs or funds specific commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 know prior to you really start investing in copy trading or copy portfolios and lastly some best recommendations 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 fees really crucial to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling all right so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can undoubtedly put money in now if you’re 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 later however when you wish to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say alright 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 charges are just among those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a great deal 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 use anyone so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you type 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 actually giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and state offer me us dollars instead you have to pay their fees now the great thing about though when you’ve converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary 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 costs so that’s actually excellent using that part of their site will not certainly restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Vitalik Buterin Diet.
You are offered many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this may be precisely what you need.