Not in fact having the total of capital…Vitalik Buterin Ust… so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you actually get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they have actually made revenue 14 months in a row purchase these options since you think is the right ones for you and that being said let’s dive directly 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 element that is probably.
popular for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for example 10 of their 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 costs included really vital you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then may not charge you for really buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 understand prior to you actually start purchasing copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually essential to comprehend these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission charges are totally free however there are a number of other fees the very first one is withdrawal costs so you can clearly put cash in now if you remain 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 money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply among those alternatives that they have a great deal of platforms clearly 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 as soon as every six months you know depends completely how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great 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 great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists 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 offer me us dollars rather you need to pay their charges now the terrific thing about however when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as money 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great utilizing that part of their website won’t certainly limit you in any way however we have to know two other costs the very first being what’s called spread costs all right and i’m going to show you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Ust.
You are offered lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this may be exactly what you need.