Not actually having the full amount of capital…Vitalik Buterin High School… so with anything that you’re finding out about please do study the platform do not just presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also 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 of course your capital is at risk this is investing we’re doing you’re buying real business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they’ve made profit 14 months in a row buy these choices since you believe is the best ones for you and that being said 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 element that is probably.
famous for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really say i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates if for instance 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 likewise cover is the fees involved really crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero charge websites then may not charge you for really buying and selling etfs or funds individual commodities specific stocks.
there’ll be costs on other parts maybe 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 before you really start investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs actually important to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling alright so commission costs are free however there are a number of other charges the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re 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 but when you wish 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those alternatives that they have a great deal of platforms clearly 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 once every 6 months you know depends completely how you’re investing but that is a cost to bear in mind the second cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that matches 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 good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact 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 state give me us dollars rather you need to pay their fees now the excellent aspect of however when you have actually converted 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 indicates the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their website won’t certainly restrict you in any way nevertheless we need to know 2 other fees the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin High School.
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