Not really having the full amount of capital…Vitalik Buterin… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option also so you really get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they’ve made profit 14 months in a row purchase these options because you think is the best ones for you which being said let’s dive straight in [Music] The 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 aspect that is probably.
famous for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for instance 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 charges involved actually vital you understand what are the costs of this now with any platform there will be some cost to certainly these are real business 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 zero cost sites then may not charge you for actually buying and selling etfs or funds specific products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 prior to you actually begin purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with fees really essential to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling all right so commission costs are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you sell your commodities 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 naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may state alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms obviously are 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 once every six months you know depends entirely how you’re investing however that is a cost to keep in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that matches 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 use anyone so if you’re using trading 2 and two open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they actually 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 instead you have to pay their fees now the fantastic feature of though when you’ve transformed 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 means the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really good utilizing that part of their site will not certainly limit you in any way nevertheless we have to understand 2 other charges the very first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Vitalik Buterin.
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