Not in fact having the full amount of capital…Vitalik Buterin Twitter Poll… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that option as well so you actually get used 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 genuine business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row purchase these options because you think is the ideal 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 probably.
famous for it’s the alternative to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can really state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 10 of their investment portfolio remains 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 actually vital you understand what are the costs of this now with any platform there will be some cost to certainly 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 charge websites then might not charge you for really buying and selling funds or etfs private products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 actually start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with charges truly important to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling alright so commission charges are totally free however there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put cash 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 wish to withdraw your money so you sell your shares you offer your products 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 only withdrawing when i definitely need to now you might state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those choices that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends totally how you’re investing but that is a charge to remember the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish 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 bargain with them you can’t go to the bank and state provide me us dollars instead you need to pay their costs now the terrific feature of however when you’ve converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy 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 truly good utilizing that part of their site will not certainly limit you in any way nevertheless we need to understand two other charges the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread cost as i’m going to show you Vitalik Buterin Twitter Poll.
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