Not actually having the total of capital…Vitalik Buterin Laptop… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you actually get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something because that person has said they have actually made revenue 14 months in a row buy these options because you think 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 aspect that is most likely.
well-known for it’s the alternative to see what other traders are doing amazing we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved actually vital you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for really buying and selling funds or etfs specific commodities specific stocks.
there’ll be charges on other parts possibly 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 prior to you really start investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with charges really essential to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling all right so commission charges are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you offer your shares you sell your products 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply one of those choices that they have a lot of platforms obviously are free 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 when every six months you know depends totally how you’re investing but that is a fee to keep in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow 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 fee now when you use anybody so if you’re using trading two and 2 open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and say offer me us dollars instead you have to pay their fees now the excellent feature of though when you’ve transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their website won’t certainly restrict you in any way however we need to know 2 other fees the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Vitalik Buterin Laptop.
You are given many 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 know which system to choose, then this might be exactly what you need.