Not actually having the full amount of capital…Vitalik Buterin Forbes… so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you in fact get used 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 naturally your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row buy these options due to the fact that you believe is the right ones for you which being said let’s dive directly 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 aspect that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we don’t 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 money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be mimicked 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 money in so we’re going to likewise cover is the costs included actually important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business 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 no charge sites then may not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 know prior to you actually begin investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually crucial to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling okay so commission costs are totally free nevertheless there are a number of other costs the very first one is withdrawal fees so you can obviously put money in now if you remain 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 on however when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those options that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know 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 option to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they really offering you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say offer me us dollars rather you have to pay their charges now the great aspect of though when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 additional costs so that’s actually excellent using that part of their site won’t definitely restrict you in any way however we need to know two other charges the first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Vitalik Buterin Forbes.
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