Not in fact having the total of capital…Vitalik Buterin Recommended Books… so with anything that you’re discovering please do study the platform don’t just presume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you in fact get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has said they have actually made revenue 14 months in a row invest in these options due to the fact that you think is the best ones for you which being stated let’s dive directly 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 probably.
famous for it’s the choice 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 and so that suggests with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means if for example 10 of their 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 fees involved actually critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no fee sites then may not charge you for in fact buying and selling etfs or funds specific products specific stocks.
there’ll be costs on other parts perhaps 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 before you actually start purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees actually important to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling fine so commission fees are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply one of those options that they have a great deal of platforms clearly are totally 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 as soon as every six months you understand depends entirely how you’re investing however that is a fee to bear in mind the second fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they in fact offering you in regards to 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 charges now the fantastic feature of however when you’ve converted your cash you do not have to invest it immediately 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 buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent using that part of their site won’t certainly limit you in any way however we have to know two other fees the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Recommended Books.
You are given many options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to select, then this may be precisely what you require.