Not actually having the total of capital…Vitalik Buterin Lex Fridman… so with anything that you’re discovering please do study the platform don’t simply assume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice too so you really get utilized to the structure of the site and after that when you’re ready to utilize 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 buying real companies if you select to in this particular video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made profit 14 months in a row buy these choices since you think is the right ones for you which being said 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’s part of social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally each time 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 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 actually important you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 a few of the no charge sites then might not charge you for really buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with costs truly important to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling all right so commission fees are totally free however there are a couple 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 immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need 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 need to charge fees someplace and withdrawal costs 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 mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a fee to remember the second fee that i have actually touched upon 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 fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good 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 2 open market anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they in fact providing 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 offer me us dollars rather you have to pay their fees now the excellent feature of though when you have actually converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their website will not definitely restrict you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Vitalik Buterin Lex Fridman.
In general, traders who utilize EToro in Trading 212 will discover it to be among the best and simplest platforms to use. You are offered numerous choices with this software and you can configure it however you choose. This makes it really versatile and easy to use. Plus, you get trading signals provided right to you, which is a big plus. If you’re looking to start trading the forex market but don’t know which system to pick, then this might be precisely what you need.