Not actually having the total of capital…Vitalik Buterin Youtube Channel… so with anything that you’re learning about please do study the platform do not just assume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they’ve made profit 14 months in a row purchase these options due to the fact that 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 most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they buy 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 cash in so we’re going to also cover is the costs involved truly crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies 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 cost sites then may not charge you for actually buying and selling funds or etfs individual products 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 costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges actually crucial to comprehend these now on there’s a couple of charges there isn’t costs to do with really buying and selling all right so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you offer your commodities 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 obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just among those choices that they have a great deal of platforms certainly are totally free 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 completely how you’re investing however that is a cost to bear in mind the 2nd cost that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that matches 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 excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually giving 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 give me us dollars rather you have to pay their fees now the excellent thing about though when you’ve converted your money 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 suggests the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their website won’t definitely limit you in any way however we have to understand 2 other costs the first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Youtube Channel.
You are given numerous options 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 select, then this might be exactly what you need.