Not actually having the full amount of capital…Vitalik Wealth… so with anything that you’re finding out about please do study the platform don’t just assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you actually get used to the structure of the site and then when you’re ready to utilize your own money 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 real companies if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they’ve made earnings 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing unbelievable 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 basically whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero fee websites then may not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees truly crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission costs are free however there are a number of other costs the first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you offer your products 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 only withdrawing when i definitely need to now you may say alright that’s quite pricey 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 simply one of those choices that they have a great deal of platforms undoubtedly are complimentary 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 as soon as every six months you know depends entirely how you’re investing however that is a cost to remember the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and two open market anyone at all this is standard they have actually i suppose stuck to whatever cost 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 charge exists what are they in fact providing 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 say give me us dollars rather you have to pay their fees now the fantastic thing about though when you’ve converted your money 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 means the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their website won’t definitely restrict you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Vitalik Wealth.
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