Not in fact having the full amount of capital…Vitalik Buterin Family… so with anything that you’re learning more about please do study the platform do not simply assume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business 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 danger and we have to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row buy these choices since you think is the ideal ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked 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 really crucial you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero cost sites then might not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 really begin purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with fees truly important to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling all right so commission costs are free however there are a number of other costs the very first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer 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 five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state 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 fees somewhere and withdrawal costs are just among those choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a charge to bear in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great 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 open market anyone at all this is basic they have i suppose stuck with whatever cost 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 charge is there what are they in fact giving you in regards to 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 have to pay their fees now the great feature of though when you have actually converted your cash you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their website won’t certainly limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread fees alright and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin Family.
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