Not in fact having the total of capital…Vitalik Buterin Forbes… so with anything that you’re learning more about please do study the platform do not just assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get utilized to the structure of the site and after that 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 business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has said they have actually made profit 14 months in a row buy these options since you believe is the right ones for you which 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 most likely.
famous for it’s the alternative to see what other traders are doing amazing 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 implies with our cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for instance 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 also cover is the charges included actually critical you comprehend what are the costs 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 included and even some of the no cost sites then may not charge you for really buying and selling funds or etfs individual 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 type of costs 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 before you in fact begin buying copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with charges truly important to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling alright so commission charges are totally free however there are a number of other fees the very first one is withdrawal charges so you can clearly put money in now if you remain 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 in the future however when you want to withdraw your cash so you sell 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 five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two free trade anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you type 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 really giving 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 say give me us dollars rather you have to pay their fees now the fantastic aspect of though when you’ve converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent using that part of their website won’t certainly restrict you in any way nevertheless we need to know two other costs the first being what’s called spread costs okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin Forbes.
You are given numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this may be precisely what you need.