Not actually having the full amount of capital…Vitalik Buterin Fortuna… so with anything that you’re learning more about please do study the platform do not just presume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you actually get utilized 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 of course your capital is at risk this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row purchase these choices since you think is the right ones for you and that being stated let’s dive straight in [Music] so the important 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.
well-known for it’s the alternative 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 money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that implies if for instance 10 of their 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 included actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies 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 absolutely no fee websites then may not charge you for actually buying and selling funds or etfs specific products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with fees truly crucial to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling okay so commission charges are totally free however there are a number of other charges the first one is withdrawal costs so you can certainly put money 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 but when you wish to withdraw your cash so you sell your shares you sell your products 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those options that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a cost to remember the second cost that i’ve discussed 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 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 good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and two open market anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they really providing 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 state offer me us dollars rather you need to pay their fees now the fantastic aspect of though when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 charges so that’s truly great utilizing that part of their website will not definitely restrict you in any way however we need to be aware of two other charges the very first being what’s called spread fees alright and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Vitalik Buterin Fortuna.
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