Not actually having the total of capital…Vitalik Buterin Linkedin… so with anything that you’re learning about please do study the platform do not just presume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you really get utilized to the structure of the site and then 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 investing in genuine business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at risk and we need 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 buy these options because you think is the ideal ones for you which being stated let’s dive directly in [Music] so the important 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 element that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable 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 means with our money we can really state i want to do precisely 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 money will be mimicked with it so that indicates if for example 10 of their 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 fees involved truly critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real business 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 charge sites then may not charge you for actually buying and selling funds or etfs private products specific 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 kinds of costs 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 know before you in fact start buying copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges actually crucial to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling alright so commission charges are totally free however there are a couple of other charges the first one is withdrawal fees so you can certainly put money in now if you’re 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 offer your shares you sell your products whatever you’re offering 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 only withdrawing when i absolutely require to now you may state okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends totally how you’re investing however that is a fee to bear in mind the second charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative 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 or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there 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 have to pay their charges now the fantastic thing about though when you have actually converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 extra fees so that’s actually excellent using that part of their site won’t certainly restrict you in any way nevertheless we have to be aware of two other costs the first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Vitalik Buterin Linkedin.
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