Not in fact having the total of capital…Vitalik Buterin Mark Zuckerberg… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you in fact get used to the structure of the website and then when you’re ready to utilize 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 purchasing real companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row invest in these choices since you believe is the right ones for you and that being stated let’s dive directly 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.
popular for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 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 fees included truly important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business 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 absolutely no cost websites then may not charge you for actually 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 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 understand before you in fact start purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs truly important to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling okay so commission costs are complimentary however there are a number of other charges the first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s instantly 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 offer 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 five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may say fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those options that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing however that is a fee to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have i expect stuck with whatever cost 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 cost is there what are they actually 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 provide me us dollars rather you have to pay their costs now the great feature of however when you’ve transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good utilizing that part of their website won’t definitely limit you in any way however we have to be aware of two other charges the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread fee as i’m going to show you Vitalik Buterin Mark Zuckerberg.
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