Not actually having the total of capital…Vitalik Buterin Kuma Inu… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i utilize 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 option also so you really get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has actually stated they’ve made revenue 14 months in a row invest in these choices since you think is the ideal ones for you and that being said let’s dive directly in [Music] so the 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.
famous for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved truly vital you understand what are the expenses of this now with any platform there will be some cost to obviously 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 a few of the no charge sites then may not charge you for really buying and selling etfs or funds private commodities individual 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 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 begin investing in copy trading or copy portfolios and finally some best guidance best 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 fees truly crucial to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission fees are complimentary however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly 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 products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing but that is a fee to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy 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 and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they in fact giving 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 state offer me us dollars rather you need to pay their costs now the great feature of though when you have actually converted your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 costs so that’s actually good utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand two other charges the very first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Vitalik Buterin Kuma Inu.
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