Not actually having the total of capital…Vitalik Buterin Country… so with anything that you’re discovering please do study the platform don’t simply assume because 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 money they give that alternative also so you actually get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something because that person has stated they’ve made profit 14 months in a row invest in these options since you think is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we do not normally 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 actually say i want to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means if for instance 10 of their financial investment portfolio is 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 crucial you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge sites then may not charge you for actually buying and selling funds or etfs individual products private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you actually begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really essential to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission charges are complimentary nevertheless there are a number of other fees the first one is withdrawal charges so you can clearly put money in now if you remain in the uk we put our uk money.
and it’s automatically 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 sell your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those alternatives 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 maybe even once a year when every 6 months you know depends completely how you’re investing but that is a fee to remember the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 say give me us dollars instead you have to pay their costs now the excellent aspect of however when you’ve transformed your cash you do not have to invest it immediately that dollar value 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 extra charges so that’s actually great using that part of their website won’t certainly limit you in any way however we need to understand two other charges the very first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you Vitalik Buterin Country.
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