Not in fact having the total of capital…Vitalik Buterin Tom Brady… so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the best ones for you which being stated let’s dive directly 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 aspect that is most likely.
famous for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that suggests 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 charges included really critical you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge sites then may not charge you for really buying and selling funds or etfs individual commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the costs 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 finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with charges really important to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission fees are totally free nevertheless there are a couple of other costs the first one is withdrawal charges so you can clearly put cash 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 later however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may say all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to keep in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s great 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 fee now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have i suppose stuck to whatever fee 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 is there what are they in fact 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 say offer me us dollars instead you need to pay their charges now the terrific feature of though when you have actually transformed your money you do not have to invest it right now 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 buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great utilizing that part of their website won’t certainly limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Vitalik Buterin Tom Brady.
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