Not really having the full amount of capital…Vitalik Buterin Qualification… so with anything that you’re finding out about please do study the platform don’t just presume because i use 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 option too so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they have actually made revenue 14 months in a row invest in these options because you think is the best ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of 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 generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they offer whatever they do your cash 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 money in so we’re going to likewise cover is the charges included really critical you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 charge websites then might not charge you for actually buying and selling funds or etfs specific products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with charges actually crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling fine so commission costs are complimentary however there are a number of other charges the first one is withdrawal fees so you can clearly put cash in now if you remain 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 in the future however when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you may say alright 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 simply among those alternatives that they have a great deal of platforms undoubtedly are 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 six months you know depends totally how you’re investing however that is a charge to bear in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and state offer me us dollars rather you need to pay their fees now the excellent feature of though when you’ve converted your money you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial 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 additional charges so that’s actually great using that part of their website will not certainly limit you in any way nevertheless we have to know 2 other costs the 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 Qualification.
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