Not actually having the full amount of capital…Vitalik Buterin Ethereum Wallet Address… so with anything that you’re finding out about please do study the platform do not just presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option also so you really get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they’ve made revenue 14 months in a row invest in these choices since you believe is the best ones for you and that being said let’s dive straight in [Music] so the important 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.
popular for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means if for example 10 of their 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 fees involved really critical you understand 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 included and even some of the zero fee websites then may not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees actually crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission charges are free however there are a number of other fees the first one is withdrawal costs so you can certainly 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 later however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you may say all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those options that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a cost to keep in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type 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 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 say provide me us dollars rather you need to pay their charges now the excellent feature of however when you’ve transformed your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their site won’t certainly restrict you in any way nevertheless we need to be aware of 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Vitalik Buterin Ethereum Wallet Address.
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