Not actually having the full amount of capital…Vitalik Buterin Ukraine War… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact 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 threat this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has said they’ve made revenue 14 months in a row buy these choices because you think is the right ones for you and that being stated let’s dive directly in [Music] so the important 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 aspect that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that suggests if for instance 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 involved really important you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no fee websites then might not charge you for really buying and selling etfs or funds specific commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with costs actually essential to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling fine so commission charges are free however there are a number of other charges the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you sell your shares you offer your commodities 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 just withdrawing when i absolutely require to now you may 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 someplace and withdrawal charges are simply one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option 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 purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two open market anyone at all this is standard they have i suppose stuck with whatever fee 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 cost exists what are they really 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 give me us dollars instead you need to pay their fees now the fantastic thing about though when you’ve transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase 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 actually great using that part of their site will not certainly restrict you in any way however we have to be aware of two other costs the very first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Vitalik Buterin Ukraine War.
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