Not really having the full amount of capital…Vitalik Buterin Youngest Billionaire… so with anything that you’re learning about please do study the platform don’t 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 cash they consider that option also so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row buy these choices since you believe is the best ones for you which 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 element that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they buy they sell whatever they do your money will be imitated 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 likewise cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some cost 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 some of the absolutely no charge websites then may not charge you for really buying and selling etfs or funds individual commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 actually start investing in 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 kick off with charges really essential to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling okay so commission fees are free however there are a number of other fees the first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum amount 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 sure that i’m just withdrawing when i absolutely need to now you may say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a fee to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars only 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 purchasing 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 two and 2 free trade anybody this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact 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 have to pay their charges now the fantastic feature of though when you’ve converted your cash you do not need to invest it immediately that dollar value can being in your portfolio as cash 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 extra charges so that’s actually good using that part of their website won’t definitely limit you in any way however we need to know two other charges the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin Youngest Billionaire.
You are provided many options with this software 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 may be precisely what you need.