Not actually having the full amount of capital…Vitalik Buterin Facebook… so with anything that you’re learning more about please do study the platform don’t simply presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice too so you really get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row purchase these options since you believe is the ideal ones for you which 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’s part of social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies 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 fees included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge websites then might not charge you for really buying and selling funds or etfs individual products individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you really begin investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with fees 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 costs are free however there are a couple of other fees the first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money 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 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require 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 need to charge costs someplace and withdrawal costs are simply among those alternatives that they have a great deal of platforms undoubtedly are complimentary 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 as soon as every 6 months you understand depends completely how you’re investing however that is a fee to bear in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’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 good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually offering you in regards to 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 need to pay their costs now the excellent thing about however when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their site won’t definitely restrict you in any way nevertheless we need to know two other costs the very first being what’s called spread costs okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Vitalik Buterin Facebook.
You are offered lots of options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to choose, then this may be precisely what you need.