Not really having the total of capital…Vitalik Buterin Twitter Dogecoin… so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative too so you in fact get used 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 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 people’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has said they have actually made earnings 14 months in a row invest in these choices due to the fact that you think is the right ones for you and that being stated let’s dive straight 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 probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their financial 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 costs involved really critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge sites then might not charge you for in fact buying and selling funds or etfs specific products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 know prior to you really start buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with fees actually important to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling alright so commission costs are totally free however there are a couple of other charges the very first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you sell 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 five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing however that is a charge to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two open market anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually offering you in regards to 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 rather you need to pay their costs now the terrific thing about though when you have actually transformed your money you do not have to invest it right away 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 extra fees so that’s actually good using that part of their site will not certainly restrict you in any way however we have to be aware of 2 other costs the very first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Vitalik Buterin Twitter Dogecoin.
You are offered lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to pick, then this might be precisely what you require.