Not really having the full amount of capital…Vitalik Buterin Medium… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you in fact get used to the structure of the website and after that when you’re ready to utilize 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 purchasing real companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row buy these choices due to the fact that you think is the right ones for you and that 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 probably.
well-known for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your money will be simulated with it so that implies if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included truly important you understand what are the costs of this now with any platform there will be some expense to certainly 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 zero charge websites then may not charge you for really buying and selling funds or etfs private 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 type of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually important to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling okay so commission fees are free however there are a couple of other fees the 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 automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you offer your shares you sell 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 of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms clearly are totally 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 understand depends totally how you’re investing however that is a charge to keep in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and 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 two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee 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 state offer me us dollars instead you need to pay their charges now the terrific feature 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 means 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 extra costs so that’s truly good using that part of their site won’t certainly restrict you in any way nevertheless we need to understand 2 other costs the first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you Vitalik Buterin Medium.
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