Not actually having the full amount of capital…Vitalik Buterin Wallet Bsc… so with anything that you’re finding out about please do study the platform do not just presume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not just do something because that person has stated they’ve made profit 14 months in a row purchase these options due to the fact that you think is the ideal ones for you which being stated 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 belongs to social trading which is one aspect that is most likely.
well-known for it’s the option to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates 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 likewise cover is the fees included actually vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost sites then may not charge you for in fact buying and selling etfs or funds individual products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really important to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling okay so commission costs are free nevertheless there are a couple of other fees the 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 automatically converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you sell your commodities 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 might say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those choices that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends completely how you’re investing but that is a charge to remember the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they really providing 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 terrific aspect of however when you have actually transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their website won’t definitely restrict you in any way however we need to understand 2 other charges the very first being what’s called spread costs okay and i’m going to show you what i mean on now a spread fee as i’m going to show you Vitalik Buterin Wallet Bsc.
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