Not in fact having the full amount of capital…Vitalik Name… so with anything that you’re learning about please do study the platform don’t just assume because i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you really 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 obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row invest in these choices since you think is the right ones for you which being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for example 10 of their financial 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 truly important you understand what are the costs of this now with any platform there will be some cost to clearly these are real 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 zero charge websites then may not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 know before you actually start purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees actually important to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling alright so commission fees are complimentary however there are a couple of other charges the first one is withdrawal fees so you can obviously 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 but when you want to withdraw your money so you sell your shares you offer your commodities 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 of course understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state alright that’s rather expensive 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 just among those alternatives 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 once every six months you understand depends completely how you’re investing but that is a charge to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and two free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they in fact 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 say offer me us dollars rather you need to pay their costs now the terrific aspect of though when you’ve transformed your cash 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 preliminary 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 fees so that’s really excellent using that part of their site will not certainly restrict you in any way however we have to understand 2 other fees the very first being what’s called spread fees 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 Name.
You are provided many alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t understand which system to select, then this may be precisely what you require.