Not in fact having the total of capital…Vitalik Buterin Kyber Network… so with anything that you’re finding out about please do study the platform do not just 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 money they consider that choice as well so you actually get used to the structure of the website and after that when you’re ready to utilize 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 investing in real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row purchase these choices because you think is the ideal ones for you and that being said let’s dive directly in [Music] so the important 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.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their 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 involved really crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no charge sites then may not charge you for actually buying and selling etfs or funds individual commodities private stocks.
there’ll be charges on other parts maybe 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 show you the fees with in particular in this video the next would be things to understand prior to you really begin investing in copy trading or copy portfolios and lastly some finest 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 begin with charges actually essential to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling alright so commission fees are totally free nevertheless there are a number of other costs the very first one is withdrawal charges so you can certainly put money 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 but when you wish to withdraw your money so you sell your shares you offer 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among 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 largely it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a cost to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that suits 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 excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they really giving 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 state provide me us dollars rather you have to pay their charges now the excellent aspect of though when you have actually converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent using that part of their website won’t certainly limit you in any way nevertheless we have to know two other fees the first being what’s called spread fees all right and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin Kyber Network.
You are given many choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to select, then this might be exactly what you require.