Not really having the full amount of capital…Vitalik Buterin Country… so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row invest in these choices since you believe is the right ones for you and that being said let’s dive straight 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 alternative to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates 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 also cover is the costs involved really crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no fee websites then might not charge you for really buying and selling etfs or funds 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 charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact begin investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees actually crucial to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling all right so commission charges are free nevertheless 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 cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount 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 make sure that i’m just withdrawing when i absolutely require to now you might say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those options that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing but that is a charge to remember the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling 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 purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say offer me us dollars instead you have to pay their costs now the great feature of though when you’ve transformed your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their website will not definitely restrict you in any way however we have to know two other fees the first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Country.
You are offered numerous choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this may be precisely what you require.