Not actually having the total of capital…Vitalik Buterin Height… so with anything that you’re learning more about please do study the platform don’t just assume because i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you actually get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying 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 undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that individual has said they have actually made earnings 14 months in a row invest in these options because you think is the right ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit 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 alternatives and basically each time they make a trade they buy they offer 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 likewise cover is the fees involved really important you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for in fact buying and selling etfs or funds individual products individual 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 costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you really begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with charges truly important to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling alright so commission costs are totally free nevertheless there are a number of other charges the first one is withdrawal fees so you can certainly 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 later but when you wish 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those choices that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually giving 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 offer me us dollars instead you need to pay their charges now the great feature of 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 suggests the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good using that part of their site won’t certainly limit you in any way nevertheless we need to know two other costs the very first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Vitalik Buterin Height.
You are given many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to select, then this might be precisely what you need.