Not really having the total of capital…Vitalik Buterin Worth… so with anything that you’re finding out about please do study the platform do not simply presume since i utilize it that you can utilize 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 used 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 of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being stated let’s dive directly in [Music] so 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 choice to see what other traders are doing incredible 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 indicates with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally every 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 financial investment portfolio is 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 important you understand what are the expenses of this now with any platform there will be some expense to obviously 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 absolutely no charge sites then may not charge you for really buying and selling funds or etfs private commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 before you really start buying copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really essential to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling okay so commission charges are free however there are a number of other costs the first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you sell your products 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 sure that i’m only withdrawing when i absolutely need to now you may say okay that’s rather expensive 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 undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a cost to remember the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really providing you in regards to 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 offer me us dollars instead you need to pay their costs now the great aspect of however when you’ve transformed your money you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great utilizing that part of their site will not certainly limit you in any way however we need to know two other costs the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Vitalik Buterin Worth.
You are given numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to select, then this may be exactly what you need.