Not really having the total of capital…Vitalik Buterin Bitcoin Wallet… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you really get used to the structure of the website and after that when you’re ready to utilize 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 buying genuine business if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row buy these choices because you believe is the right 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 understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests 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 costs involved actually critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly 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 no fee websites then might not charge you for in fact buying and selling etfs or funds individual products specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges really crucial to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling alright so commission costs are free however there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum amount 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 certain that i’m only withdrawing when i definitely require to now you may state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just one of those choices that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative 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 buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is basic they have i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering 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 say provide me us dollars rather you need to pay their fees now the terrific thing about however when you have actually converted your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 good utilizing that part of their site won’t certainly restrict you in any way however we need to be aware of two other charges the first being what’s called spread fees all right and i’m going to show you what i imply on now a spread charge as i’m going to show you Vitalik Buterin Bitcoin Wallet.
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