Not really having the total of capital…Vitalik Buterin House… so with anything that you’re learning about please do study the platform don’t just 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 give that option too so you in fact 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row buy these choices because you think is the ideal ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your money will be mimicked 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 fees involved actually critical you understand what are the expenses of this now with any platform there will be some cost to obviously 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 a few of the absolutely no charge sites then might not charge you for actually buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 know prior to you really start buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees really crucial to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling alright so commission fees are free however there are a couple of other fees the first one is withdrawal charges so you can clearly put money 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 later on 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 make sure that i’m just withdrawing when i definitely require to now you might say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just among those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually 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 which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually 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 give me us dollars rather you need to pay their charges now the fantastic thing about though when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent using that part of their website will not definitely limit you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Vitalik Buterin House.
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