Not in fact having the full amount of capital…Vitalik Buterin Lifestyle… so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you really get utilized 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 buying genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that individual has stated they’ve made profit 14 months in a row purchase these choices because you think is the right ones for you and that being said let’s dive directly 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 most likely.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t generally 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 money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means 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 also cover is the charges involved truly important you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge sites then might not charge you for actually buying and selling etfs or funds individual 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 costs with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with charges truly crucial to understand these now on there’s a couple of charges there isn’t charges to do with really buying and selling alright so commission fees are free nevertheless there are a number of other charges 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 money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you offer 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 five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those options that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits 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 anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 offer me us dollars rather you have to pay their fees now the terrific feature of though when you’ve transformed your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial 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 charges so that’s really excellent using that part of their site won’t definitely restrict you in any way nevertheless we have to understand two other charges the very first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Vitalik Buterin Lifestyle.
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