Not really having the total of capital…Vitalik Buterin Rich… so with anything that you’re finding out about please do study the platform do not simply presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you really get utilized to the structure of the site and then 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 purchasing real companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other benefit 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 exact portfolio of options and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for instance 10 of their investment portfolio remains 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 truly crucial you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine 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 no fee websites then might not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 prior to you really start purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges actually crucial to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling alright so commission charges are complimentary however there are a number of other fees the very first one is withdrawal costs so you can clearly put money in now if you remain 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 in the future but when you wish to withdraw your money so you sell your shares you sell 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 obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply one of those alternatives 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 mainly it can be perhaps even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to purchase 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 and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really offering 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 have to pay their fees now the excellent thing about however when you’ve converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really good utilizing that part of their website will not definitely limit you in any way nevertheless we have to know two other fees the first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread fee as i’m going to show you Vitalik Buterin Rich.
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