Not actually having the total of capital…Vitalik Buterin Net Iq… so with anything that you’re learning about please do study the platform do not just presume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you really get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row invest in these options due to the fact that you believe is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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 extraordinary 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 indicates with our money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of options and basically every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates if for example 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 charges involved actually critical you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies 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 fee websites then may not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 before you really start buying copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling fine so commission costs are totally free however there are a number of other costs the very first one is withdrawal costs so you can certainly put cash 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 on but when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just one of those alternatives that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends entirely how you’re investing however that is a fee to bear in mind the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway 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 utilize anybody so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually providing 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 give me us dollars rather you have to pay their charges now the excellent aspect of however when you’ve converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates 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 additional fees so that’s really excellent using that part of their site won’t definitely limit you in any way however we have to know 2 other costs the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Vitalik Buterin Net Iq.
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