Not actually having the full amount of capital…Vitalik Buterin Book… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that 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 consider that choice also so you really get utilized 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 risk this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that person has stated they have actually made earnings 14 months in a row purchase these options because you think is the ideal ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for example 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 likewise cover is the charges involved really important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies 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 cost websites then might not charge you for actually buying and selling funds or etfs specific commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs truly important to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission charges are complimentary however there are a number of other costs the first one is withdrawal charges so you can clearly put cash in now if you remain 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 in the future however when you want to withdraw your cash so you sell your shares you sell 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 make certain that i’m only withdrawing when i definitely need to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those choices that they have a great deal of platforms clearly 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 once every 6 months you know depends entirely how you’re investing however that is a charge to remember the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists 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 provide me us dollars rather you need to pay their charges now the excellent thing about however when you have actually converted your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their website will not certainly restrict you in any way however we have to know 2 other fees the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Vitalik Buterin Book.
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