Not really having the full amount of capital…Vitalik Buterin Twitter Giveaway… so with anything that you’re learning more about please do study the platform don’t simply assume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row buy these options because you think is the best ones for you and that 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 aspect that is probably.
popular for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their financial 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 charges included really important you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost websites then might not charge you for actually buying and selling funds or etfs individual products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with costs truly essential to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling okay so commission fees are totally free nevertheless there are a couple of other costs the first one is withdrawal fees so you can obviously put money in now if you remain 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 wish to withdraw your money so you offer 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 5 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 state okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a great deal of platforms undoubtedly 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 as soon as every 6 months you know depends completely how you’re investing however that is a charge to keep in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great 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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 offer me us dollars instead you need to pay their fees now the terrific feature of however when you’ve converted your money you do not need to invest it right now 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 extra fees so that’s really great utilizing that part of their site will not certainly restrict you in any way however we need to be aware of two other charges the first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Vitalik Buterin Twitter Giveaway.
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