Not really having the full amount of capital…Vitalik Buterin Funny… so with anything that you’re learning about please do study the platform do not simply assume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get used 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 of course your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has said they have actually made profit 14 months in a row buy these options due to the fact that you think is the right ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can actually state i want to do exactly 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 mimicked with it so that indicates if for example 10 of their financial 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 costs involved really critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then may not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 understand before you in fact begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees truly essential to comprehend these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling all right so commission fees are free however there are a couple of other costs the very first one is withdrawal charges so you can clearly put cash 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 in the future but when you wish to withdraw your money so you sell your shares you sell your commodities 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 of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those options that they have a great deal 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 six months you know depends entirely how you’re investing but that is a fee to bear in mind the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they really giving 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 state provide me us dollars instead you need to pay their charges now the great feature of however when you’ve converted your cash 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site will not certainly restrict you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Vitalik Buterin Funny.
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