Not really having the full amount of capital…Vitalik Buterin Diet… so with anything that you’re finding out about please do study the platform do not just presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real business if you select to in this particular video we’re discussing how to copy other people’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 actually said they’ve made earnings 14 months in a row purchase these choices since you believe is the ideal ones for you which 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 belongs to social trading which is one aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we don’t usually 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 state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for instance 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 actually crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no charge sites then might not charge you for actually buying and selling funds or etfs private commodities individual stocks.
there’ll be fees on other parts perhaps 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 begin buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more 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 really buying and selling all right so commission costs are complimentary nevertheless there are a couple of other charges the very first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those alternatives that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps 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 using trading two and 2 free trade anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they really providing 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 offer me us dollars rather you need to pay their costs now the fantastic feature of however when you’ve transformed your money 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 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 extra costs so that’s actually great using that part of their website won’t definitely restrict you in any way however we need to know two other fees the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Vitalik Buterin Diet.
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