Not in fact having the full amount of capital…Vitalik Buterin Crypto Winter… so with anything that you’re learning more about please do study the platform don’t simply presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that individual has stated they have actually made earnings 14 months in a row buy these options since you think is the best ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
well-known for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that means 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 involved truly vital you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for actually buying and selling funds or etfs private commodities specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really important to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling okay so commission costs are complimentary however there are a number of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you offer your products whatever you’re offering 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 understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state okay 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 just one of those choices that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have i suppose 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 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 provide me us dollars instead you have to pay their costs now the excellent aspect of however when you have actually converted your money 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 initial day that you purchase or transform 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 actually great using that part of their website won’t definitely restrict you in any way nevertheless we have to understand two other charges the very first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Vitalik Buterin Crypto Winter.
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