Not really having the full amount of capital…Vitalik Buterin Founder Of Ethereum… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you actually get utilized to the structure of the site 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 purchasing genuine companies if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually stated they have actually made profit 14 months in a row purchase these options due to the fact that you believe is the right ones for you which being stated let’s dive straight 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 probably.
famous for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell 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 money in so we’re going to also cover is the charges included truly critical you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero cost sites then might not charge you for really buying and selling funds or etfs specific products 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 sort of charges 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 know before you really start purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs really important to comprehend these now on there’s a couple of fees there isn’t fees to do with really buying and selling all right so commission costs are complimentary however there are a number of other costs the first one is withdrawal fees so you can obviously put cash in now if you remain 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 in the future however when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five 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 might say alright 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 fees are simply one of those choices that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a fee to remember the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two free trade anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually providing 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 state give me us dollars instead you need to pay their charges now the terrific feature of however when you have actually transformed your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial 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 extra charges so that’s really excellent utilizing that part of their site will not certainly limit you in any way however we need to understand 2 other costs the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Vitalik Buterin Founder Of Ethereum.
You are provided lots of options with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this might be exactly what you require.