Not in fact having the full amount of capital…Vitalik Buterin Hardware Wallet… so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you in fact get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually said they’ve made profit 14 months in a row invest in these options due to the fact that you believe is the right ones for you which being said 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 probably.
famous for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved really important 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 a few of the zero fee sites then may not charge you for really buying and selling funds or etfs private commodities specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs really essential to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission costs are free nevertheless there are a couple of other costs the first one is withdrawal fees so you can obviously put cash 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 however when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those options 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 mainly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a cost to keep in mind the second fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow 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 cost now when you use anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they really providing 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 say give me us dollars rather you need to pay their charges now the excellent feature of though when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent using that part of their website won’t certainly restrict you in any way nevertheless we need to understand 2 other fees the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Hardware Wallet.
You are offered many options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to select, then this may be precisely what you need.