Not in fact having the total of capital…Vitalik Buterin Trilemma… so with anything that you’re learning more about please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you actually get utilized to the structure of the website 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 threat this is investing we’re doing you’re buying real business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something because that person has said they have actually made earnings 14 months in a row invest in these choices since you believe is the best ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they offer whatever they do your money will be mimicked with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really important you understand what are the costs of this now with any platform there will be some cost to obviously 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 some of the absolutely no cost sites then may not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be fees 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 show you the costs with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with fees truly essential to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling all right so commission fees are free however there are a number of other charges the first one is withdrawal fees so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a great deal of platforms clearly are totally free 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 when every six months you know depends entirely how you’re investing however that is a charge to keep in mind the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or 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 using trading 2 and two free trade anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they actually offering 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 offer me us dollars instead you have to pay their fees now the great feature of however when you’ve transformed your cash you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates 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 extra fees so that’s truly excellent using that part of their website will not definitely limit you in any way nevertheless we have to understand 2 other charges the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Vitalik Buterin Trilemma.
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