Not really having the full amount of capital…Vitalik Worth… so with anything that you’re learning more about please do study the platform do not just presume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you actually get utilized to the structure of the site and after that 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 danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row buy these options because you think is the ideal ones for you and that being said let’s dive directly in [Music] The 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 element that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of options and basically each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for example 10 of their financial 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 involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine 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 zero charge sites then may not charge you for really buying and selling funds or etfs specific commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 prior to you really start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly important to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission fees are totally free however there are a couple of other costs the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s immediately 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 sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state alright that’s rather expensive and i get that but 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 clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely 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 cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they really providing 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 state give me us dollars instead you have to pay their fees now the terrific aspect of though when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good using that part of their site will not certainly limit you in any way nevertheless we need to know two other costs the first being what’s called spread costs okay and i’m going to show you what i imply on now a spread cost as i’m going to show you Vitalik Worth.
You are provided lots of options with this software application 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 choose, then this may be precisely what you need.