Not actually having the total of capital…Vitalik Buterin With Putin… 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 now do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually 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 danger this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row purchase these options because you think is the ideal ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes 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 unbelievable we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can actually state i want 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 sell whatever they do your cash will be imitated with it so that suggests 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 charges involved really crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real business 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 no fee websites then might not charge you for really buying and selling etfs or funds private commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs truly essential to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission costs are complimentary nevertheless there are a number of other costs the very first one is withdrawal charges so you can undoubtedly put money in now if you remain 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 however when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity 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 sure that i’m only withdrawing when i definitely need to now you might state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among those choices that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends completely how you’re investing however that is a cost to remember the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that matches me.
a great deal 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 anybody so if you’re using trading two and 2 free trade anybody this is basic they have i expect stuck with 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 cost exists 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 state provide me us dollars rather you need to pay their costs now the excellent thing about though when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their website won’t definitely restrict you in any way however 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 mean on now a spread charge as i’m going to reveal you Vitalik Buterin With Putin.
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