Not actually having the total of capital…Vitalik Buterin Linkedin… so with anything that you’re finding out about please do study the platform do not simply presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give 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 money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re talking about how to copy other people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually stated they have actually made earnings 14 months in a row invest in these choices since 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests if for instance 10 of their financial 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 included really critical you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then may not charge you for really buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to know before you really begin purchasing copy trading or copy portfolios and lastly some best recommendations 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 costs really essential to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling alright so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly 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 in the future but when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling 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 understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those options that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing however that is a fee to bear in mind the 2nd cost that i’ve touched upon 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 fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anybody this is basic they have i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they actually 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 say give me us dollars instead you need to pay their charges now the terrific aspect of though when you have actually transformed your money you do not need to invest it right now that dollar worth 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 fees so that’s truly good using that part of their site will not definitely restrict you in any way nevertheless we need to understand two other charges the first being what’s called spread costs okay and i’m going to show you what i imply on now a spread fee as i’m going to show you Vitalik Buterin Linkedin.
You are offered numerous options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to choose, then this may be exactly what you need.