Not really having the full amount of capital…Vitalik Buterin Ust… so with anything that you’re learning about please do study the platform do not simply presume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option too so you really get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that individual has said they’ve made earnings 14 months in a row purchase these choices due to the fact that you think is the ideal ones for you which being stated let’s dive directly in [Music] 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.
famous for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your cash will be imitated 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 money in so we’re going to likewise cover is the fees involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge sites then may not charge you for in fact buying and selling etfs or funds 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 kinds 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 understand before you in fact begin investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with charges really crucial to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling fine so commission fees are complimentary however there are a number of other fees the first one is withdrawal charges so you can undoubtedly put cash 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 offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say okay that’s rather expensive 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 simply one of those choices that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type of need 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 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 give me us dollars instead you have to pay their charges now the fantastic feature of though when you have actually converted your cash 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 implies the preliminary 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 fees so that’s truly great using that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Ust.
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