Not in fact having the total of capital…Vitalik Buterin Father… so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can utilize 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 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 naturally your capital is at threat this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something because that person has actually said they have actually made earnings 14 months in a row invest in these choices since you believe is the best ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really say i want to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved actually crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering 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 understand before you really start buying copy trading or copy portfolios and finally some finest recommendations 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 costs actually crucial to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling all right so commission costs are totally free however there are a couple 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 instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum quantity 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 certain that i’m only withdrawing when i absolutely require to now you may say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps 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 using trading two and two open market anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really giving you in terms of 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 say provide me us dollars rather you have to pay their charges now the terrific aspect of though when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial 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 additional fees so that’s truly excellent using that part of their site won’t certainly restrict you in any way however we have to be aware of two other charges the very first being what’s called spread fees fine and i’m going to show you what i mean on now a spread cost as i’m going to show you Vitalik Buterin Father.
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