Not in fact having the total of capital…Vitalik Buterin Uniqlo… so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something because that person has actually said they’ve made earnings 14 months in a row invest in these options since you think is the ideal ones for you and that being said 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 belongs to social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing extraordinary we don’t generally 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 really state i want to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included actually vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge websites then might not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 understand prior to you really start buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly essential to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling okay so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal charges so you can undoubtedly 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 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 of course understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might state alright that’s rather pricey 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 one of those choices that they have a great deal of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing but that is a cost to keep in mind the second fee that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s great that matches 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 good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually giving you in regards to 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 say provide me us dollars rather you need to pay their fees now the excellent aspect of however when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent utilizing that part of their site will not definitely restrict you in any way however we need to know 2 other costs the very first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Vitalik Buterin Uniqlo.
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