Not actually having the full amount of capital…Vitalik Buterin Zoug… so with anything that you’re discovering please do study the platform don’t simply presume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you actually get used 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 of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something because that person has actually said they’ve made earnings 14 months in a row invest in these choices since 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates 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 also cover is the costs included actually important you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee sites then might not charge you for actually buying and selling etfs or funds 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 type of costs 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 know prior to you really begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really essential to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling okay so commission fees are totally free however there are a couple of other fees 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 cash.
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 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you might say alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those alternatives that they have a great deal of platforms undoubtedly are free 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 6 months you know depends completely how you’re investing however that is a fee to remember the second fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact giving you in terms of 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 terrific thing about however when you’ve converted your cash you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand two other fees the very first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Zoug.
You are provided numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this may be exactly what you require.