Not in fact having the total of capital…Vitalik Buterin Optimism… so with anything that you’re learning about please do study the platform don’t simply assume 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 choice too so you really get used to the structure of the site and after that when you’re ready to utilize your own money 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 buying genuine business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row invest in these choices since you think is the ideal ones for you which being said 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’s part of social trading which is one element that is most likely.
well-known for it’s the option to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies 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 likewise cover is the costs involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges truly crucial to comprehend these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those choices that they have a great deal of platforms obviously 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 as soon as every 6 months you know depends completely how you’re investing however that is a cost to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow 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 cost now when you utilize anybody so if you’re using trading 2 and two open market anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually giving you in regards to 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 offer me us dollars rather you need to pay their fees now the great feature of however when you have actually transformed your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good utilizing that part of their site will not certainly restrict you in any way nevertheless we have to know 2 other costs the first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Vitalik Buterin Optimism.
You are provided numerous alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to pick, then this might be precisely what you need.