Not in fact having the full amount of capital…Vitalik Buterin Fortune… so with anything that you’re learning about please do study the platform don’t simply assume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you really get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row purchase these options because you think is the ideal ones for you and that 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 aspect that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary 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 means with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of options and generally whenever 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 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 truly crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 charge websites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
there’ll be charges 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 show you the costs with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees 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 okay so commission charges are complimentary nevertheless there are a number of other costs the first one is withdrawal charges so you can obviously put cash in now if you’re 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 in the future however when you wish to withdraw your cash so you offer your shares you offer your commodities 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 make certain that i’m just withdrawing when i definitely need to now you might state okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those choices that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing but that is a fee to remember the second fee that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that fits 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 fee now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving you in terms of 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 provide me us dollars instead you have to pay their charges now the excellent thing about though when you’ve converted your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their website won’t certainly limit you in any way nevertheless we need to know two other costs the very first being what’s called spread charges alright and i’m going to show you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Fortune.
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