Not actually having the total of capital…Vitalik Buterin Health… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you actually get utilized to the structure of the site and then 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 threat this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that person has stated they have actually made revenue 14 months in a row buy these choices due to the fact that you think 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your money 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 charges involved really vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero charge websites then may not charge you for really buying and selling funds or etfs specific commodities private 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 sort of costs 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 in fact start purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with costs truly essential to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission fees are free nevertheless there are a number of other costs the first one is withdrawal fees so you can clearly put cash 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 later on however when you want to withdraw your money 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 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those options that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends totally how you’re investing but that is a cost to remember the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps 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 using trading two and two open market anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they actually offering 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 have to pay their fees now the terrific thing about however when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really good utilizing that part of their site will not certainly restrict you in any way nevertheless we need to understand 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Vitalik Buterin Health.
You are given numerous 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 know which system to select, then this may be exactly what you need.