Not really having the total of capital…Vitalik Buterin Twitter Shib… so with anything that you’re learning more about please do study the platform do not simply assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option 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 buying genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row invest in these choices since you believe is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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 option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they sell whatever they do your money will be imitated with it so that means 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 charges included really vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no charge websites then might not charge you for in fact buying and selling etfs or funds private commodities specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you actually begin investing in copy trading or copy portfolios and lastly some finest suggestions finest 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 actually crucial to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling fine so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might say alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those options that they have a great deal of platforms undoubtedly are complimentary 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 once every 6 months you know depends totally how you’re investing but that is a charge to remember the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good 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 free trade anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they actually providing 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 provide me us dollars instead you need to pay their costs now the terrific feature of though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Vitalik Buterin Twitter Shib.
You are offered numerous options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to choose, then this may be exactly what you need.