Not really having the full amount of capital…Vitalik Buterin Rich… so with anything that you’re finding out about please do study the platform don’t just presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you actually get utilized 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 obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick 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 danger and we need to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row purchase these options since you think is the ideal ones for you and that being stated let’s dive directly 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 aspect that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i want to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included really critical you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero cost websites then may not charge you for in fact buying and selling funds or etfs individual commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 understand before you really begin purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees truly essential to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission costs are free nevertheless there are a couple of other costs the very 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 sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just one of those alternatives 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 mostly it can be perhaps even once a year once every six months you know depends entirely how you’re investing however that is a fee to bear in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy 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 perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two open market 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 understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they in fact 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 state provide me us dollars rather you have to pay their costs now the excellent feature of however when you’ve converted your cash you do not have to invest it right now 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 purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their website won’t definitely limit you in any way however we need to understand 2 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 cost as i’m going to reveal you Vitalik Buterin Rich.
You are given numerous choices with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not know which system to select, then this might be exactly what you require.