Not in fact having the full amount of capital…Vitalik Buterin Youtube… so with anything that you’re finding out about please do study the platform do not simply presume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you really get used to the structure of the site and then when you’re ready to utilize 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 investing in real business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they’ve made earnings 14 months in a row invest in these options because you think is the best ones for you and that being said let’s dive directly 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 aspect that is probably.
well-known for it’s the alternative to see what other traders are doing unbelievable 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 suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included really vital 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 some of the absolutely no fee sites then might not charge you for in fact buying and selling funds or etfs specific products individual stocks.
there’ll be fees on other parts maybe 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 costs with in particular in this video the next would be things to understand prior to you really begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges actually important to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling okay so commission fees are free nevertheless there are a number of other charges the first one is withdrawal costs so you can obviously 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 on but when you wish to withdraw your cash so you offer your shares you sell your commodities 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 make sure that i’m just withdrawing when i definitely require to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that fits 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 excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to utilize 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 say offer me us dollars rather you need to pay their charges now the terrific feature of though when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests 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 fees so that’s really good utilizing that part of their site will not definitely limit you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Youtube.
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