Not really having the total of capital…Vitalik Buterin Voting… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i utilize 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 alternative also so you actually get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row buy these options since you believe is the ideal ones for you which being stated 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 aspect that is probably.
well-known for it’s the alternative to see what other traders are doing amazing 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 means with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their financial investment portfolio remains 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 truly critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee websites then might not charge you for actually buying and selling funds or etfs individual commodities individual 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 reveal you the costs with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with charges really crucial to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling all right so commission costs are free however there are a number of other costs the very first one is withdrawal costs so you can obviously put money 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 on however when you want to withdraw your money so you sell 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 ensure that i’m just withdrawing when i definitely require to now you may say alright 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 costs are simply among those alternatives that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends entirely how you’re investing but that is a fee to keep in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 open market anyone at all this is basic they have actually i expect stuck to 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 charge 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 give me us dollars rather you have to pay their charges now the fantastic feature of however when you have actually transformed your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests 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 charges so that’s truly good using that part of their website won’t definitely restrict you in any way however we have to be aware of 2 other costs the first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Vitalik Buterin Voting.
You are provided many options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to choose, then this may be exactly what you need.