Not really having the full amount of capital…Vitalik Buterin Education… so with anything that you’re discovering please do study the platform do not just assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too 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 obviously your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something since that person has actually stated they’ve made profit 14 months in a row purchase these options due to the fact that you think is the right ones for you which 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 probably.
famous for it’s the alternative to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really state i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for example 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 included actually important you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee websites then might not charge you for actually buying and selling funds or etfs specific products specific 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 charges with in particular in this video the next would be things to understand before you really start purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with costs really essential to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling alright so commission fees are totally free nevertheless there are a number of other charges the first one is withdrawal charges so you can certainly put money in now if you remain 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 on however when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum amount 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 sure that i’m only withdrawing when i absolutely need to now you might say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have 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 in fact 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 have to pay their costs now the excellent aspect of however when you have actually converted your cash 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 implies 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 additional fees so that’s truly excellent using that part of their website will not definitely limit you in any way however we need to know 2 other costs the first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Vitalik Buterin Education.
You are offered many options 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 understand which system to pick, then this may be exactly what you require.