Not in fact having the full amount of capital…Vitalik Buterin Dancing… so with anything that you’re finding out about please do study the platform do not simply presume since i utilize it that you can use 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 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 buying real business if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row invest in these choices because you think is the right ones for you which being stated 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’s part of social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked 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 likewise cover is the costs included actually vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 a few of the absolutely no charge sites then may not charge you for really buying and selling funds or etfs specific products 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 kinds of costs 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 understand before you actually start investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with costs actually important to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission costs are totally free however there are a number of other costs the very first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those options that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind 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 actually giving 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 provide me us dollars instead you need to pay their costs now the excellent thing about though when you have actually 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 initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their site won’t definitely restrict you in any way however we need to be aware of 2 other costs the very first being what’s called spread costs all right and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Vitalik Buterin Dancing.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this might be exactly what you need.