Not really having the total of capital…Vitalik Buterin History… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you actually get utilized to the structure of the site and after that 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 risk this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so certainly 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 choices since you think is the right ones for you and that being said 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 aspect that is probably.
famous for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved actually important you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no cost sites then may not charge you for in fact buying and selling etfs or funds individual products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly crucial to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling alright so commission charges are complimentary nevertheless there are a couple of other charges the first one is withdrawal charges so you can certainly put cash in now if you remain 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 but when you wish to withdraw your cash so you offer your shares you sell your commodities 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 knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just one of those options that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you understand depends completely how you’re investing however that is a cost to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that suits 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 great 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 open market anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they actually giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state provide me us dollars instead you need to pay their charges now the terrific aspect of however when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great utilizing that part of their website will not certainly limit you in any way however we have to understand two other charges the very first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin History.
You are offered lots of alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to pick, then this may be precisely what you require.