Not actually having the total of capital…Vitalik Buterin Official Instagram… so with anything that you’re discovering please do study the platform don’t simply assume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually get utilized to the structure of the website 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 risk this is investing we’re doing you’re purchasing real companies 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 have to bear that in mind do not just do something since that individual has actually said they’ve made profit 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being said 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’s part of social trading which is one aspect that is most likely.
popular for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for instance 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 involved truly vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost websites then might not charge you for really buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs really crucial to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling all right so commission costs are free however there are a number of other fees the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
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 offer your commodities 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those options that they have a great deal of platforms certainly are free 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 once every 6 months you know depends completely how you’re investing however that is a cost to remember the second cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that matches 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 utilize anyone so if you’re using trading 2 and two free trade 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 know if you wish to use their platform go from uk to us then that conversion cost exists what are they really giving 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 state give me us dollars rather you need to pay their fees now the great thing about however when you’ve converted your money you do not have to invest it right away that dollar value 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 occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good using that part of their site will not certainly restrict you in any way nevertheless we have to know two other charges the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin Official Instagram.
You are given many choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this may be precisely what you require.