Not really having the full amount of capital…Vitalik Buterin Quotes… so with anything that you’re discovering please do study the platform do not simply assume because 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 money they consider that choice as well so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own money 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 genuine companies if you pick to in this particular 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 have to bear that in mind do not just do something since that person has actually said they’ve made profit 14 months in a row buy these options since you think is the best ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
famous for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase 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 money in so we’re going to also cover is the costs involved really critical you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine 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 zero charge websites then might not charge you for actually buying and selling funds or etfs specific commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with fees really crucial to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling alright so commission costs are totally free however there are a couple of other fees the very 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 automatically 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 offer your products whatever you’re selling the minimum quantity 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 just withdrawing when i definitely require to now you may say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just 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 as soon as every six months you know depends totally how you’re investing however that is a fee to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 open market anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact giving you in terms of 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 offer me us dollars instead you have to pay their charges now the terrific feature of however when you have actually transformed your cash you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread fees fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Vitalik Buterin Quotes.
You are offered many options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to pick, then this may be exactly what you need.