Not actually having the full amount of capital…Vitalik Buterin Height… so with anything that you’re learning about please do study the platform don’t simply presume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row purchase these options because you believe is the best 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 aspect that is probably.
well-known for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your cash will be mimicked 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 money in so we’re going to likewise cover is the costs included truly vital 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 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 in fact buying and selling funds or etfs private commodities private stocks.
there’ll be costs on other parts maybe 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 fees with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees really essential to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling fine so commission charges are free however there are a number of other charges the very first one is withdrawal costs so you can clearly put money in now if you remain 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 money so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say okay that’s rather 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 charges are just among those alternatives that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists 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 offer me us dollars rather you have to pay their charges now the great thing about though when you have actually converted your money 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 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 really good using that part of their website will not certainly limit you in any way however we need to be aware of two other charges the very first being what’s called spread charges all right and i’m going to show you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Height.
You are provided numerous choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this may be exactly what you need.