Not really having the total of capital…Vitalik Buterin Pronunciation… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that alternative also so you actually get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk 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 financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they’ve made earnings 14 months in a row buy these choices due to the fact that you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the important 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 most likely.
well-known for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for example 10 of their financial 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 charges included really vital you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no charge websites then might not charge you for actually buying and selling funds or etfs specific commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really essential to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission charges are free nevertheless there are a number of other fees the first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk money.
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 offer 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 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those options that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a charge to bear in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i expect stuck to whatever charge 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 exists what are they actually 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 say provide me us dollars instead you need to pay their costs now the terrific aspect of however when you’ve transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy 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 actually great using that part of their website won’t definitely limit you in any way however we need to be aware of two other fees the very first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Vitalik Buterin Pronunciation.
You are provided numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to pick, then this might be exactly what you require.