Not in fact having the full amount of capital…Vitalik Buterin… so with anything that you’re learning more about please do study the platform don’t simply presume since 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 give that choice as well so you actually 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 danger this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that person has actually said they have actually made revenue 14 months in a row buy these choices due to the fact that you think is the best ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for example 10 of their 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 comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no charge websites then may not charge you for actually buying and selling etfs or funds individual commodities private stocks.
there’ll be fees on other parts perhaps 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 reveal you the costs with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with costs really important to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission fees are free however there are a number of other costs the very first one is withdrawal fees so you can certainly put cash in now if you remain 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 want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might say alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges 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 mostly it can be perhaps even once a year as soon as every 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort 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 actually offering you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and state give me us dollars rather you need to pay their charges now the excellent thing about though when you’ve converted your money you do not need to invest it right away that dollar worth can being in your portfolio as money 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 additional costs so that’s really excellent utilizing that part of their site won’t certainly restrict you in any way however we need to know two other fees the first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Vitalik Buterin.
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