Not really having the full amount of capital…Vitalik Buterin Ukraine… so with anything that you’re learning more about please do study the platform do not simply assume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you actually get utilized to the structure of the website and after that 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 threat this is investing we’re doing you’re investing in real business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something because that person has stated they have actually made earnings 14 months in a row invest in these options because you think is the ideal ones for you which 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 element that is probably.
popular for it’s the option to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included actually critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the buying 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 actually buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you actually start investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges actually essential to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling okay so commission charges are complimentary nevertheless there are a couple of other costs the first one is withdrawal charges so you can undoubtedly put money in now if you’re 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 on 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 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those options that they have a great deal of platforms clearly 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 as soon as every six months you know depends completely how you’re investing however that is a cost to bear in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway 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 fee now when you use anybody so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they really giving you in regards to 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 charges now the fantastic aspect of however when you’ve converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 costs so that’s really excellent using that part of their website won’t definitely limit you in any way however we have to understand 2 other costs the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Vitalik Buterin Ukraine.
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