Not in fact having the total of capital…Vitalik Buterin One Bag… so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you actually get used to the structure of the website and then 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 risk this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something because that person has stated they’ve made profit 14 months in a row purchase these choices due to the fact that you think is the best ones for you which being said 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 most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio remains 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 truly important you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then may not charge you for actually buying and selling funds or etfs private products individual 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 fees 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 understand prior to you actually start investing in copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges truly essential to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission fees are free nevertheless there are a couple of other fees the 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 later but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of those alternatives 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 perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact 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 say provide me us dollars rather you need to pay their costs now the fantastic feature of though when you have actually transformed your money 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 means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their website will not definitely 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 imply on now a spread fee as i’m going to show you Vitalik Buterin One Bag.
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