Not actually having the full amount of capital…Vitalik Buterin Ig… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you actually get utilized to the structure of the site and then 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 danger this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row buy these options due to the fact that you think 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 comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the alternative to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and generally each time they make a trade they purchase they offer whatever they do your money will be simulated 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 costs involved really vital you understand what are the costs of this now with any platform there will be some cost to obviously 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 some of the no cost websites then might not charge you for really buying and selling funds or etfs specific commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to know before you actually begin investing in copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with costs truly important to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling okay so commission costs are totally free nevertheless there are a number of other costs the first one is withdrawal costs so you can obviously put cash in now if you remain 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 later but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering 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 just withdrawing when i definitely require to now you might say all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those choices that they have a lot of platforms clearly 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 6 months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists 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 give me us dollars rather you need to pay their charges now the terrific aspect of however when you have actually transformed your cash you do not have to invest it right now that dollar value 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 happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their website won’t definitely restrict you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Ig.
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