Not really having the full amount of capital…Vitalik Buterin Alien… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you in fact get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row buy these options because you believe is the ideal 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 comprehending 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 alternative to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really state i wish to do precisely what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved truly critical you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee sites then might not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be costs on other parts possibly 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 show you the fees with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees actually important to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling all right so commission fees are complimentary nevertheless there are a number of other fees the very first one is withdrawal fees so you can certainly put cash in now if you remain 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 however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum amount 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 only withdrawing when i definitely require to now you might state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends totally how you’re investing however that is a cost to bear in mind the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway 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 cost now when you use anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they actually offering 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 provide me us dollars rather you need to pay their costs now the great feature of though when you’ve transformed your money you do not have to invest it right now that dollar worth can being 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 costs so that’s actually great using that part of their site will not certainly limit you in any way nevertheless we have to know two other fees the very first being what’s called spread charges okay and i’m going to show you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Alien.
You are offered numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to pick, then this might be exactly what you require.