Not actually having the full amount of capital…How Did Vitalik Buterin Get Rich… so with anything that you’re discovering please do study the platform don’t just presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually get utilized to the structure of the site and then 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 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 investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that person has stated they’ve made revenue 14 months in a row buy these options due to the fact that you think is the right ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
popular for it’s the alternative to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for instance 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 likewise cover is the costs involved truly crucial you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no fee websites then might not charge you for really buying and selling etfs or funds individual commodities private 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 type of charges 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 understand before you actually begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with charges really crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling fine so commission fees are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you sell your shares you sell your products 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 of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those choices that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a cost to keep in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway 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 anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists 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 rather you have to pay their costs now the great aspect of however when you’ve transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy 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 truly great utilizing that part of their website won’t certainly restrict you in any way however we have to know 2 other charges the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread fee as i’m going to show you How Did Vitalik Buterin Get Rich.
You are offered numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this might be precisely what you require.