Not actually having the full amount of capital…Vitalik Buterin Uber Quote… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you really get utilized to the structure of the website 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 risk this is investing we’re doing you’re buying real business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row purchase these choices since you believe is the ideal ones for you and that being stated let’s dive straight 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 aspect that is probably.
famous for it’s the choice to see what other traders are doing incredible we do not typically 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 in fact state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests 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 also cover is the costs included truly critical you comprehend 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 buying the selling for you there’s going to be charges included and even a few of the zero cost sites then might not charge you for in fact buying and selling funds or etfs private products 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 sort 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 really start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with fees truly essential to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling alright so commission charges are totally free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly 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 however when you wish to withdraw your cash so you offer your shares you sell your commodities 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 need to now you might state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing but that is a charge to remember the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
a lot 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 charge now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really offering you in terms of 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 provide me us dollars rather you have to pay their charges now the great feature of however when you have actually converted your cash 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 implies the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really good utilizing that part of their site will not definitely limit you in any way nevertheless we have to know 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Uber Quote.
You are provided many choices with this software application and you can configure it however 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.