Not in fact having the full amount of capital…Vitalik Buterin Dad Twitter… so with anything that you’re finding out about please do study the platform do not simply presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you actually get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they have actually made earnings 14 months in a row invest in these choices because you believe is the ideal 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’s part of social trading which is one aspect that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable 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 indicates with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked 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 charges involved truly vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then may not charge you for actually buying and selling funds or etfs private commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 really begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really essential to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission fees are totally free nevertheless there are a couple of other fees 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 immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money 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 five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a great deal of platforms certainly are complimentary 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 when every 6 months you know depends entirely how you’re investing but that is a charge to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or 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 two and 2 free trade anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they really giving 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 say provide me us dollars instead you have to pay their charges now the fantastic feature of however when you have actually transformed your cash 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 buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their website will not certainly restrict you in any way however we need to be aware of 2 other charges the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread fee as i’m going to show you Vitalik Buterin Dad Twitter.
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