Not in fact having the total of capital…Vitalik Buterin Soulbound… so with anything that you’re learning more about please do study the platform do not simply presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you actually get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something because that person has actually stated they have actually made profit 14 months in a row buy these choices because you believe is the best ones for you and that 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.
famous for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really state i wish to do exactly what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for example 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 fees involved really crucial you understand what are the costs of this now with any platform there will be some cost to certainly these are real 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 zero fee websites then might not charge you for really buying and selling etfs or funds specific commodities specific stocks.
there’ll be costs on other parts perhaps 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 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 lastly some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with fees truly crucial to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling all right so commission fees are free nevertheless there are a number of other charges the first one is withdrawal fees so you can certainly put money 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 but when you wish to withdraw your cash so you offer your shares you offer 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 of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those options that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two open market anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists 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 give me us dollars instead you need to pay their fees now the fantastic thing about however when you have actually converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent using that part of their website won’t definitely restrict you in any way nevertheless we have to understand two other charges the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Soulbound.
You are provided many options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this might be precisely what you need.