Not really having the total of capital…Vitalik Buterin T Shirt… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice too 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 obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that person has said they have actually made revenue 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you which 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 aspect that is probably.
famous for it’s the choice to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so 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 mimicked with it so that indicates if for example 10 of their financial investment portfolio is 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 understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for in fact buying and selling etfs or funds specific commodities private stocks.
there’ll be fees on other parts possibly 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 know before you in fact start purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs actually crucial to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission charges are complimentary however there are a number of other costs the first one is withdrawal fees so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you sell 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 of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those options that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a cost to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact 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 have to pay their charges now the great aspect of however when you’ve transformed your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good using that part of their site won’t definitely limit you in any way however we need to know 2 other costs the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin T Shirt.
You are given lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to choose, then this may be exactly what you need.