Not in fact having the full amount of capital…Vitalik Buterin Total Net Worth… so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something since that person has stated they have actually made profit 14 months in a row invest in these choices due to the fact that you think is the right ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
popular 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 benefit is these copy portfolios are copy trading therefore that means with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for instance 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 also cover is the fees included truly vital you understand what are the costs 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 involved and even a few of the absolutely no charge websites then might not charge you for actually buying and selling funds or etfs individual products specific 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 kinds 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 prior to you really begin purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges really crucial to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission charges are free nevertheless there are a number of other costs the first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer 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 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs 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 largely it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing but that is a fee to bear in mind the second charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that matches me.
a great deal 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 charge now when you use anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact providing 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 charges now the excellent aspect of though when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase 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 excellent utilizing that part of their site will not certainly limit you in any way however we need to be aware of 2 other charges the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Vitalik Buterin Total Net Worth.
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