Not actually having the total of capital…Vitalik Buterin Youngest Billionaire… so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you really get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re talking about how to copy other people’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they have actually made earnings 14 months in a row invest in these choices since you think is the right ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for instance 10 of their 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 charges included truly crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no cost websites then might not charge you for in fact buying and selling etfs or funds private products individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 actually begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges truly important to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling fine so commission charges are complimentary however there are a couple of other charges the very first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you offer 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 naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those options that they have a lot of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a lot 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 cost now when you use anybody so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have 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 actually 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 rather you need to pay their costs now the terrific thing about though when you have actually converted your money 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good using that part of their site won’t certainly restrict you in any way however we need to understand two other charges the first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Vitalik Buterin Youngest Billionaire.
You are offered numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this might be exactly what you need.