Not actually having the total of capital…Vitalik Buterin Book… so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you actually get utilized 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 of course 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 individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row invest in these choices because you think is the right ones for you which being stated let’s dive directly in [Music] so the important 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 aspect that is probably.
famous for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of options and basically 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 instance 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 really vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real 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 zero cost sites then may not charge you for really buying and selling funds or etfs private 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 sort of charges 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 in fact begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with fees really crucial to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling all right so commission fees are totally free nevertheless there are a number of other costs the very first one is withdrawal costs so you can undoubtedly 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 however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five 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 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 fees are just among those choices 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 mostly it can be perhaps even once a year when every six months you understand depends completely how you’re investing however that is a fee to bear in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great 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 good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and 2 open market anybody this is standard they have i expect stuck with whatever fee 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 cost is there what are they actually offering you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state give me us dollars rather you need to pay their charges now the fantastic aspect of though when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 costs so that’s actually good utilizing that part of their website will not definitely limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread charges okay and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Vitalik Buterin Book.
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