Not actually having the full amount of capital…Vitalik Buterin Age When He Created Ethereum… so with anything that you’re finding out about please do study the platform do not simply assume since i use 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 choice too so you in fact get utilized 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 investing in real business if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row invest in these choices because you think 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 aspect that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests if for example 10 of their 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 actually important you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost websites then may not charge you for actually buying and selling etfs or funds private 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 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 understand prior to you actually start buying copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges truly essential to comprehend these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission costs are totally free nevertheless there are a couple 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 cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply one of those choices that they have a great deal of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway 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 charge now when you use anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they really offering 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 offer me us dollars instead you need to pay their costs now the fantastic thing about however when you have actually 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 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 costs so that’s really great using that part of their site won’t certainly limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Vitalik Buterin Age When He Created Ethereum.
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 select, then this might be exactly what you need.