Not really having the total of capital…Vitalik Buterin Podcast… so with anything that you’re learning about please do study the platform don’t 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 also so you actually get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying real business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that person has said they’ve made revenue 14 months in a row invest in these choices due to the fact that you believe is the right ones for you which being said let’s dive directly 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 element that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of options and basically every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates if for example 10 of their 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 charges included actually critical you understand what are the costs 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 involved and even some of the absolutely no fee websites then might not charge you for in fact buying and selling etfs or funds private commodities private stocks.
there’ll be charges on other parts perhaps 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 know prior to you really start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges really essential to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling fine so commission charges are complimentary however there are a couple of other costs the first one is withdrawal fees so you can clearly put cash 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 in the future but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those choices that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve discussed 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 suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact providing you in regards to 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 state give me us dollars instead you have to pay their costs now the excellent thing about however when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their site will not certainly restrict you in any way however we need to be aware of 2 other costs the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin Podcast.
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