Not really having the full amount of capital…Vitalik Buterin Cat Purse… so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you really get used 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 naturally your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe 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’s part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included actually important you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine 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 fee websites then may not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts perhaps 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 know before you really start buying copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees actually crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission fees are free nevertheless there are a number of other fees the first one is withdrawal charges so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state all right that’s quite pricey 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 options that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing however that is a fee to remember the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and two open market anyone at all this is standard 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 cost exists what are they in fact giving you in terms of 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 say provide me us dollars rather you need to pay their fees now the terrific feature of however when you’ve transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site will not definitely restrict you in any way nevertheless we need to understand two other costs the very first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Cat Purse.
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