Not in fact having the full amount of capital…Vitalik Buterin Twitter… so with anything that you’re finding out about please do study the platform do not just assume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you in fact 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 investing in genuine companies if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has actually stated they have actually made earnings 14 months in a row invest in these choices since you think is the ideal ones for you and that being said let’s dive directly in [Music] so the 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 element that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your money 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 money in so we’re going to also cover is the costs included truly vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine business 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 fee websites then may not charge you for in fact buying and selling funds or etfs specific products private 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 sort of costs associated so do your due diligence and i’m going to reveal you the charges 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 finest 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 comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling fine so commission charges are totally free however there are a number of other fees the very first one is withdrawal fees so you can certainly 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 on however when you wish to withdraw your money so you offer 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 five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state alright that’s quite 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 costs are simply one of those alternatives that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s fine that fits 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 charge now when you utilize anyone so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really 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 charges now the fantastic aspect of though when you have actually converted 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 indicates the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their site will not certainly limit you in any way however we have to understand 2 other charges the first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Twitter.
You are offered lots of options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to select, then this might be exactly what you require.