Not really having the total of capital…Vitalik Buterin Optimism… so with anything that you’re finding out about please do study the platform do not just presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real business if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they’ve made earnings 14 months in a row purchase these choices because you think is the best ones for you which being said let’s dive straight 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.
popular for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero charge sites then may not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly crucial to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling fine so commission costs are complimentary nevertheless there are a number of other charges the first one is withdrawal charges so you can undoubtedly put money in now if you remain 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 on but when you wish 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may state okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those choices that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that matches 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 excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they really 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 state give me us dollars instead you need to pay their charges now the excellent aspect of however when you’ve transformed your cash you do not need to invest it right away that dollar worth can being in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent utilizing that part of their site won’t definitely restrict you in any way however we have to know two other charges the very first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Vitalik Buterin Optimism.
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