Not actually having the total of capital…Vitalik Buterin Facebook… so with anything that you’re learning about please do study the platform don’t simply assume because 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 too so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has stated they’ve made profit 14 months in a row buy these choices because you think 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved actually important you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine 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 zero charge sites then may not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 start purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with costs truly crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with actually buying and selling okay so commission fees are free nevertheless there are a number of other charges the first one is withdrawal fees so you can certainly put money 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 but when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state alright that’s quite costly 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 among those alternatives that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends completely how you’re investing however that is a charge to remember the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great 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 excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they actually giving 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 instead you need to pay their costs now the fantastic 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 buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their website won’t definitely restrict you in any way however we have to be aware of 2 other charges the very first being what’s called spread costs all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Vitalik Buterin Facebook.
You are offered numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to pick, then this may be exactly what you need.