Not actually having the total of capital…Vitalik Buterin Religion… so with anything that you’re learning about please do study the platform do not just assume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that person has actually stated they have actually made earnings 14 months in a row invest in these options because you think is the best ones for you and that being said let’s dive straight 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 element that is most likely.
popular for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests if for instance 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 truly vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly 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 absolutely no cost websites then might not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 know before you actually begin purchasing copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees truly essential to understand these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling fine so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal fees so you can clearly put cash 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 money so you offer your shares you offer your commodities 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 knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you might say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two free trade anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists 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 say provide me us dollars instead you have to pay their costs now the great thing about however when you’ve converted your money you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent utilizing that part of their site will not certainly restrict you in any way however we have to understand two other fees the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Religion.
You are provided numerous choices with this software 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 select, then this might be precisely what you need.