Not really having the full amount of capital…Vitalik Buterin Cold Wallet Address… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that choice too so you in fact get utilized 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 obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something because that individual has stated they’ve made earnings 14 months in a row purchase these choices due to the fact that you think is the best ones for you and that being stated let’s dive straight 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 aspect that is probably.
popular for it’s the option to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates 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 also cover is the costs involved truly important you understand what are the costs of this now with any platform there will be some cost to undoubtedly 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 some of the absolutely no charge websites then might not charge you for in fact buying and selling etfs or funds private products individual 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 kinds 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 actually start buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with charges actually crucial to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling fine so commission costs are complimentary however there are a couple of other costs the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk cash.
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 offer your shares you sell 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 knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those alternatives that they have a lot 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 perhaps even once a year when every 6 months you know depends completely how you’re investing however that is a cost to keep in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only 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 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 charge now when you utilize anybody so if you’re utilizing trading 2 and two free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving 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 state provide me us dollars rather you have to pay their fees now the great aspect of however when you have actually transformed your money you do not need to invest it right away that dollar value can sit 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 occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand two other fees the very first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Cold Wallet Address.
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