Not really having the total of capital…Vitalik Buterin Unsw… so with anything that you’re discovering please do study the platform do not simply assume since 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 option also so you actually get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that person has stated they’ve made profit 14 months in a row invest in these options due to the fact that you believe is the right ones for you which being stated 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 alternative to see what other traders are doing incredible we do not usually 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 really state i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved actually important you understand what are the costs of this now with any platform there will be some expense to obviously these are real 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 no cost sites then may not charge you for actually buying and selling etfs or funds individual commodities specific stocks.
there’ll be fees on other parts perhaps 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 show you the fees with in particular in this video the next would be things to know before you in fact start purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really important to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling fine so commission fees are free however there are a number of other costs the very first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk money.
and it’s immediately 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 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 certain that i’m only withdrawing when i absolutely require to now you may say fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of 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 mainly it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing but that is a cost to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps 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 using trading 2 and 2 free trade anyone at all this is basic 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 use their platform go from uk to us then that conversion charge exists what are they really offering you in terms of 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 instead you need to pay their charges 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 sit in your portfolio as money dollars for as long as you like so that implies the preliminary 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 additional charges so that’s actually excellent utilizing that part of their website will not definitely limit you in any way however we need to know two other charges the first being what’s called spread costs okay and i’m going to show you what i mean on now a spread fee as i’m going to show you Vitalik Buterin Unsw.
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