Not really having the total of capital…Twitter.Com Vitalik Buterin… so with anything that you’re finding out about please do study the platform do not just assume since 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 alternative also so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row purchase these choices since you believe is the right ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
well-known for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that implies if for instance 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 also cover is the costs included truly crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real 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 fee sites then may not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with costs really essential to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling all right so commission costs are totally free nevertheless there are a number of other charges the very first one is withdrawal costs so you can clearly put cash in now if you’re 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 but when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those options that they have a great deal 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 perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they really providing 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 provide me us dollars instead you need to pay their charges now the great feature of however when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests 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 extra fees so that’s really great using that part of their site will not certainly restrict you in any way however we need to understand two other costs the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Twitter.Com Vitalik Buterin.
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