Not in fact having the total of capital…Vitalik Buterin Lifestyle… so with anything that you’re learning about please do study the platform do not simply assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also so you in fact get utilized to the structure of the site and then 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 risk this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they’ve made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you and that being stated let’s dive straight in [Music] 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 most likely.
famous for it’s the choice 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 suggests with our cash we can actually state 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 buy they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their financial 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 costs included actually crucial you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 no cost sites then might not charge you for actually buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 actually start purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees truly essential to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling alright so commission charges are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can clearly 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 later however when you wish to withdraw your cash so you offer your shares you offer your commodities 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply among those options that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends totally how you’re investing however that is a fee to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that fits 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 excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and two open market anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there 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 state give me us dollars rather you have to pay their costs now the fantastic aspect of though when you have actually converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase 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 truly good utilizing that part of their website won’t certainly restrict you in any way nevertheless 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 imply on now a spread cost as i’m going to show you Vitalik Buterin Lifestyle.
You are provided many options 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 pick, then this may be precisely what you need.