Not really having the total of capital…Vitalik Buterin Rap… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i use it that you can use it right away do some due diligence have a little play around 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 after that 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 threat this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that individual has stated they have actually made earnings 14 months in a row invest in these options due to the fact that you believe is the right ones for you which being stated 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.
famous for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and basically each time they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included actually important you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee websites then might not charge you for really buying and selling etfs or funds specific products individual 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 fees with in particular in this video the next would be things to know before you in fact begin purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly important to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling fine so commission charges are totally free nevertheless there are a number of other fees the first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 in the future but when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those choices that they have a lot of platforms clearly are totally 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 as soon as every 6 months you know depends completely how you’re investing however that is a fee to keep in mind the 2nd fee 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 and that’s fine that fits me.
a great deal 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 cost now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is basic they have actually i suppose stuck to whatever cost 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 cost 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 need to pay their costs now the excellent aspect of though when you have actually converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that indicates 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 extra costs so that’s really good utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of two other costs the first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Vitalik Buterin Rap.
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