Not in fact having the full amount of capital…Vitalik Buterin Cat Purse… so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you in fact get utilized to the structure of the website and then when you’re ready to utilize 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 buying real business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row purchase these options due to the fact that you think is the ideal ones for you and that being said let’s dive directly 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.
famous for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included really critical you understand what are the costs of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly essential to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling alright so commission charges are complimentary nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly put cash in now if you’re 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 wish to withdraw your money so you offer your shares you offer your commodities 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state alright that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends totally how you’re investing however that is a charge to bear in mind the second charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two open market anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they really providing you in terms of 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 say offer me us dollars rather you have to pay their charges now the excellent thing about though when you’ve transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their site will not certainly limit you in any way however we need to be aware of two other charges the first being what’s called spread fees fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Vitalik Buterin Cat Purse.
You are offered lots of choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to choose, then this might be precisely what you need.