Not actually having the total of capital…Vitalik Buterin Residence… so with anything that you’re learning about please do study the platform do not simply presume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also 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 naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something since that person has actually stated they’ve made revenue 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being stated let’s dive straight in [Music] so the 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 aspect that is probably.
well-known for it’s the option to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually say i wish 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 money 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 truly crucial you comprehend what are the costs 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 no fee sites then may not charge you for really buying and selling etfs or funds private products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 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 start your journey or your advanced financier so let’s kick off with costs really important to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission charges are free nevertheless there are a number of other fees the first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer your shares you sell your commodities 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may state okay that’s rather pricey 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 just among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a fee to keep in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow 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 fee now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they really offering 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 instead you need to pay their charges now the terrific feature of however when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of two other fees the very first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Vitalik Buterin Residence.
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