Not really having the full amount of capital…Cryptocurrency Vitalik… so with anything that you’re learning about please do study the platform don’t simply presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you in fact get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that individual has stated they have actually made revenue 14 months in a row invest in these choices because you believe is the ideal ones for you which being stated let’s dive directly 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’s part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing unbelievable 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 implies with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they purchase they offer whatever they do your money will be simulated 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 cash in so we’re going to also cover is the charges involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost websites then might not charge you for actually buying and selling etfs or funds individual products specific 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 fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with costs actually essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling fine so commission charges are complimentary however there are a couple of other costs the first one is withdrawal fees so you can certainly put cash in now if you’re 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 but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling 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 ensure that i’m just withdrawing when i definitely require to now you might state all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just among those choices that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a cost to bear in mind the 2nd fee that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good 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 standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact 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 have to pay their costs now the excellent feature of however when you’ve converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary 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 additional charges so that’s really good using that part of their website won’t certainly limit you in any way however we need to know 2 other costs the first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Cryptocurrency Vitalik.
You are given many alternatives with this software application 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 choose, then this may be exactly what you require.