Not really having the total of capital…Michael Saylor Vitalik Buterin… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something because that person has said they have actually made revenue 14 months in a row purchase these options due to the fact that you think is the ideal ones for you which 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 element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included truly critical you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee sites then may not charge you for really buying and selling funds or etfs specific commodities private 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 kinds of charges 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 know prior to you in fact start purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with costs really essential to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission fees are complimentary nevertheless there are a number of other charges the first one is withdrawal charges so you can obviously put money in now if you’re 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 cash so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say okay 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 someplace and withdrawal charges are simply among those options 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 when every six months you understand depends completely how you’re investing but that is a charge to remember the 2nd charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy 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 buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anybody this is standard they have i suppose 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 fee is there 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 say provide me us dollars rather you need to pay their costs now the terrific thing about though when you’ve converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase 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 truly good using that part of their site will not definitely restrict you in any way however we need to understand two other fees the first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Vitalik Buterin.
You are given many options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this might be precisely what you require.