Not actually having the total of capital…Vitalik Buterin Crypto Winter… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that 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 consider that alternative too so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they have actually made profit 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being said let’s dive straight in [Music] so the 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 probably.
famous for it’s the choice to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for example 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 likewise cover is the charges involved truly important 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 buying the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for actually buying and selling funds or etfs private products specific 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 fees 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 lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs really important to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling fine so commission fees are totally free however there are a couple of other costs the very first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those alternatives that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends entirely how you’re investing however that is a cost to keep in mind the second charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and two open market anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really providing 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 instead you have to pay their charges now the excellent aspect of however when you’ve transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial 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 additional charges so that’s truly good utilizing that part of their website won’t definitely limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Vitalik Buterin Crypto Winter.
You are offered lots of options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this might be exactly what you need.