Not actually having the total of capital…Vitalik Buterin Gavin Wood Net Worth… so with anything that you’re learning more about please do study the platform don’t simply assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you actually get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in real business if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row invest in these options because you think is the ideal ones for you which 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’s part of social trading which is one aspect that is most likely.
well-known for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their 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 costs involved truly crucial you comprehend what are the expenses 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 a few of the no fee sites then may not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be costs on other parts possibly 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 charges with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees truly essential to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission fees are free however there are a number of other costs the first one is withdrawal charges so you can obviously put cash in now if you’re 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 however when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say fine that’s quite pricey 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 one of those options that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends totally how you’re investing however that is a cost to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway 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 fee now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists 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 give me us dollars instead you have to pay their fees now the excellent feature of however when you’ve transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good utilizing that part of their site will not certainly limit you in any way nevertheless we have to know two other charges the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Gavin Wood Net Worth.
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