Not really having the total of capital…Vitalik Buterin Backpack… so with anything that you’re learning more about please do study the platform don’t simply assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you really get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they have actually made earnings 14 months in a row purchase these options since you believe is the right ones for you which being said 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 belongs to social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included actually vital you comprehend what are the expenses of this now with any platform there will be some expense to certainly 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 fee websites then might not charge you for actually buying and selling etfs or funds private commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges really crucial to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling alright so commission costs are totally free nevertheless there are a number of other fees the first one is withdrawal charges so you can certainly put cash in now if you remain 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 on however when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those options that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a fee to bear in mind the second cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
a great deal 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 fee now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact 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 give me us dollars instead you need to pay their fees now the terrific feature of though when you have actually transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good using that part of their website won’t definitely restrict you in any way however we need to know two other charges the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Vitalik Buterin Backpack.
You are given lots of choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not understand which system to choose, then this may be precisely what you require.