Not actually having the full amount of capital…Vitalik Buterin Ig… so with anything that you’re finding out about please do study the platform do not simply presume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you really 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 obviously your capital is at risk this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that person has actually stated they’ve made revenue 14 months in a row invest in these choices due to the fact that you think is the right 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 element that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we don’t generally 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 money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that means if for example 10 of their financial investment portfolio remains 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 vital you comprehend what are the expenses 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 included and even some of the zero charge sites then may not charge you for in fact buying and selling etfs or funds private products private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 actually begin purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees really crucial to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal charges so you can clearly put cash in now if you’re 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 but when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among those options 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 largely it can be perhaps even once a year once every six months you know depends completely how you’re investing but that is a fee to remember the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying 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 using trading 2 and 2 open market anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they actually 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 say provide me us dollars instead you have to pay their costs now the excellent aspect of though when you’ve converted your money you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their site won’t definitely limit you in any way nevertheless we have to be aware of 2 other charges the first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Vitalik Buterin Ig.
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