Not actually having the total of capital…Vitalik Buterin Worth… so with anything that you’re learning about please do study the platform do not just presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really get used to the structure of the website and then when you’re ready to utilize your own money 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 specific video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these choices due to the fact that you believe is the right ones for you which being stated let’s dive directly 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.
well-known for it’s the option to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests if for instance 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 costs involved truly crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost sites then may not charge you for in fact buying and selling etfs or funds specific commodities individual 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 sort of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees truly essential to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission fees are totally free nevertheless there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell your shares you sell your commodities 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may say fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those alternatives that they have a lot of platforms undoubtedly 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 once every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two open market anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact offering you in terms of 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 give me us dollars instead you need to pay their costs now the terrific aspect of however when you’ve converted your money you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert 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 actually good utilizing that part of their website will not definitely restrict you in any way however we have to know two other charges the first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Vitalik Buterin Worth.
You are offered many options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to choose, then this may be precisely what you require.