Not in fact having the total of capital…Vitalik Buterin Medium… so with anything that you’re learning more about please do study the platform do not just assume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row purchase these options since you believe is the ideal ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t usually 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 cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means 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 also cover is the fees involved really important you comprehend what are the expenses of this now with any platform there will be some cost to obviously 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 cost sites then might not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees 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 reveal you the charges with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs truly essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling okay so commission costs are totally free however there are a number of other charges the very first one is withdrawal charges so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five 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 may say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends entirely how you’re investing however that is a cost to bear in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 instead you have to pay their fees now the great aspect of however when you’ve converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their website will not definitely restrict you in any way however we need to understand two other costs the first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Vitalik Buterin Medium.
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