Not actually having the total of capital…Vitalik Buterin Founder Of Ethereum… so with anything that you’re discovering please do study the platform do not just assume since 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 option as well so you actually get utilized to the structure of the site 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 real companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually said they have actually made earnings 14 months in a row buy these choices due to the fact that 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.
famous for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they sell whatever they do your cash will be imitated 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 costs involved really critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 in fact begin purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs really essential to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you sell your products 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 just withdrawing when i definitely need to now you might state fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those options 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 maybe even once a year when every six months you understand depends totally how you’re investing but that is a charge to bear in mind the second charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering you in regards to 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 charges now the excellent feature of however when you have actually converted your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 truly good utilizing that part of their website will not certainly restrict you in any way however we have to understand 2 other fees the very first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Vitalik Buterin Founder Of Ethereum.
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