Not actually having the total of capital…Vitalik Buterin Twitter Shiba Inu… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you actually get utilized to the structure of the site and after that 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 real companies if you select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row invest in these choices since you believe is the best ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really say i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included truly vital you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost websites then might not charge you for in fact buying and selling etfs or funds individual products individual 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 kinds of fees 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 before you really begin purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling okay so commission costs are totally free however there are a couple of other charges the first one is withdrawal fees so you can obviously put cash in now if you remain 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 sell your shares you sell your products 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those choices that they have a lot of platforms undoubtedly 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 when every 6 months you know depends entirely how you’re investing however that is a cost to keep in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway 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 utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually offering 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 say offer me us dollars rather you have to pay their charges now the great feature of though when you have actually transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase 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 excellent utilizing that part of their website will not certainly limit you in any way nevertheless we need to understand two other fees the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Vitalik Buterin Twitter Shiba Inu.
You are offered numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to choose, then this might be exactly what you need.