Not actually having the total of capital…Vitalik Buterin Tom Brady… so with anything that you’re finding out about please do study the platform don’t simply assume because 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 consider that alternative also so you in fact get utilized 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 naturally your capital is at danger this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row buy these options due to the fact that you think is the best ones for you which being stated 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 becomes part of social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that means 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 fees involved really important you understand 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 a few of the absolutely no fee websites then might not charge you for really buying and selling etfs or funds individual products specific 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 fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you really start investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with costs actually crucial to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling okay so commission costs are totally free however there are a couple of other charges 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 on however when you wish to withdraw your money so you offer your shares you offer 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just one of 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 mostly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a fee 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 a choice to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and 2 open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of need 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 actually providing 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 say offer me us dollars rather you have to pay their charges now the fantastic thing about however when you have actually transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent utilizing that part of their site will not certainly limit you in any way however we need to understand two other costs the first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Tom Brady.
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