Not really having the total of capital…Vitalik Buterin Iq… so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you really get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they’ve made revenue 14 months in a row buy these options because you believe is the right ones for you which being stated 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 element that is probably.
well-known for it’s the option to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates 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 costs involved truly critical you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no fee websites then might not charge you for really buying and selling funds or etfs private 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 kinds 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 prior to you really begin purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges actually important to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling okay so commission fees are free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
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 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 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those options that they have a great deal of platforms clearly are free 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 when every six months you understand depends entirely how you’re investing however that is a charge to keep in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that matches 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 great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact offering 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 give me us dollars instead you have to pay their costs now the excellent feature of however when you have actually transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great using that part of their website won’t certainly limit you in any way however we have to understand two other fees the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Vitalik Buterin Iq.
You are provided numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to select, then this may be precisely what you require.