Not actually having the total of capital…Vitalik Buterin Official Twitter… so with anything that you’re learning more about please do study the platform do not simply presume 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 consider that option too so you really get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they have actually made earnings 14 months in a row purchase these options since you believe is the right ones for you which being said let’s dive straight 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 aspect that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests if for example 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 costs involved actually critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 zero cost websites then might not charge you for really buying and selling etfs or funds private 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 fees with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges really crucial to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling fine so commission costs are totally free however there are a couple of other fees the first one is withdrawal fees so you can clearly put cash in now if you’re 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 however when you wish to withdraw your cash so you sell your shares you offer your commodities 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a great deal of platforms obviously are complimentary 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 when every 6 months you understand depends entirely how you’re investing but that is a fee to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that suits 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 excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say offer me us dollars rather you have to pay their fees now the fantastic aspect of though when you’ve transformed your cash you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert 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 truly great utilizing that part of their site will not certainly restrict you in any way however we need to understand 2 other fees the first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Official Twitter.
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