Not really having the total of capital…Vitalik Buterin Recommended Books… so with anything that you’re learning about please do study the platform don’t just assume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made earnings 14 months in a row purchase these options because you believe is the ideal ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates 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 fees involved really important you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine 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 absolutely no fee sites then may not charge you for really buying and selling funds or etfs private commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing 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 charges 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 finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs really important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission costs are free nevertheless there are a number of other charges the first one is withdrawal costs 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 however when you want to withdraw your money so you offer your shares you offer 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 make sure that i’m just withdrawing when i absolutely require to now you might state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply one of those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing but that is a charge to keep in mind the second charge that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 provide me us dollars rather you need to pay their costs now the terrific thing about though when you have actually transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests 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 actually good using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of 2 other costs the very first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Vitalik Buterin Recommended Books.
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