Not in fact having the total of capital…Cryptocurrency Vitalik… so with anything that you’re finding out about please do study the platform do not simply assume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you in fact get utilized 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 obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually stated they’ve made profit 14 months in a row purchase 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies 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 fees included really critical you understand what are the costs of this now with any platform there will be some cost to obviously these are real 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 absolutely no charge sites then might not charge you for in fact buying and selling etfs or funds specific products private 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 type of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with fees truly crucial to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling fine so commission costs are free however there are a couple of other costs the very first one is withdrawal charges so you can clearly put money 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 in the future however when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those options that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a cost to remember the second charge that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two free trade anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really providing you in terms of 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 offer me us dollars rather you need to pay their charges now the great thing about however when you have actually transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their site will not certainly restrict you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Cryptocurrency Vitalik.
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