Not actually having the full amount of capital…Vitalik Buterin Scalability Trilemma… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative 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 business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something since that individual has said they’ve made profit 14 months in a row purchase these choices since you believe is the right ones for you and that being stated let’s dive directly in [Music] so the 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 most likely.
well-known for it’s the option to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your money 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 also cover is the costs involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 some of the absolutely no fee websites then may not charge you for actually buying and selling funds or etfs individual products individual stocks.
there’ll be fees 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 reveal you the fees with in particular in this video the next would be things to understand before you actually begin investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs actually essential to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling alright so commission charges are totally free nevertheless there are a number of other charges the first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you offer your commodities 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you might state fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those choices 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 mainly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually 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 fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really giving you in regards to 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 rather you have to pay their charges now the great feature of though when you have actually transformed your money you do not need to invest it right away 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 purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their site will not certainly restrict you in any way nevertheless we need to understand two other costs the very first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you Vitalik Buterin Scalability Trilemma.
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