Not in fact having the total of capital…Who Is Vitalik Buterin Father… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you really get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial 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 stated they’ve made revenue 14 months in a row buy these choices since you think is the right ones for you and that being said let’s dive directly 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 most likely.
famous for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a great deal 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 exact portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included truly crucial you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge websites then might not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 in fact start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with costs truly essential to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling alright so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can clearly 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 in the future but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you know depends entirely how you’re investing but that is a cost to keep in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even 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 using trading 2 and 2 free trade anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and state give me us dollars rather you need to pay their costs now the terrific aspect of however when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase 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 truly good utilizing that part of their website won’t certainly restrict you in any way however we need to understand 2 other costs the first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Who Is Vitalik Buterin Father.
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