Not really having the total of capital…Vitalik Buterin Alien… so with anything that you’re learning more about please do study the platform don’t just presume since 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 used to the structure of the site and then when you’re ready to utilize 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 purchasing real business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row buy these choices because you believe is the best ones for you and that being stated let’s dive straight in [Music] so 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 probably.
famous for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved actually vital you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 a few of the no charge sites then might not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be charges 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 reveal you the costs with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly 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 begin with charges really essential to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling all right so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 in the future however when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those choices that they have a lot of platforms obviously are complimentary 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 once every 6 months you know depends completely how you’re investing but that is a cost to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that suits 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 great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they really offering 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 give me us dollars instead you need to pay their fees now the excellent thing about though when you’ve converted your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent using that part of their site will not certainly limit you in any way nevertheless we have to be aware of two other charges the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Vitalik Buterin Alien.
You are offered lots of alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this might be exactly what you require.