Not really having the total of capital…Vitalik Buterin Terra Luna… so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that option also so you actually 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 naturally your capital is at threat this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually stated they’ve made revenue 14 months in a row invest in these options because you believe is the ideal ones for you which being said let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
well-known for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates if for instance 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 likewise cover is the costs involved truly vital you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for actually buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to understand prior to you actually start purchasing copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees actually important to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you remain 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 but when you want to withdraw your money so you sell your shares you sell 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just one of those options that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends totally how you’re investing but that is a cost to bear in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they actually giving 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 rather you need to pay their fees now the great thing about though when you have actually converted 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 implies the preliminary 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 charges so that’s actually excellent using that part of their site will not certainly restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Vitalik Buterin Terra Luna.
You are offered many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to select, then this might be exactly what you need.