Not in fact having the full amount of capital…Who Is Vitalik Buterin Father… so with anything that you’re discovering please do study the platform do not simply assume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you actually get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has said they have actually made earnings 14 months in a row buy these options since you believe is the best ones for you which being said let’s dive straight in [Music] so the important 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 probably.
famous for it’s the option to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for instance 10 of their 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 involved actually important you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge websites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 really begin purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with charges truly essential to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission costs are totally free however there are a couple of other fees the very first one is withdrawal costs so you can clearly put money in now if you remain 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 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 five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a charge to remember the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact offering you in regards to 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 say offer me us dollars instead you need to pay their fees now the fantastic aspect of however when you have actually transformed your money you do not need to invest it right away that dollar value can being in your portfolio as money 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 truly great using that part of their site will not definitely limit you in any way however we need to understand two other fees the very first being what’s called spread costs okay 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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