Not actually having the total of capital…Vitalik Buterin Languages… so with anything that you’re finding out about please do study the platform do not simply assume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row invest in these choices since you believe is the best ones for you which being said let’s dive directly 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.
well-known for it’s the alternative to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved really important you understand what are the costs 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 a few of the zero cost sites then may not charge you for in fact buying and selling funds or etfs private 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 sort of fees 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 prior to you in fact start investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with costs truly crucial to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling okay so commission charges are totally free nevertheless there are a number of other fees the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity 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 definitely require to now you might state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply 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 largely it can be perhaps even once a year as soon as every six months you know depends totally how you’re investing however that is a fee to remember the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 state give me us dollars rather you have to pay their fees now the great feature of however when you have actually transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform 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 excellent utilizing that part of their site won’t certainly restrict you in any way however we have to know 2 other costs the first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Vitalik Buterin Languages.
You are given numerous options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this may be precisely what you require.