Not really having the total of capital…Vitalik Buterin Yacht… so with anything that you’re learning about please do study the platform do not just assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you in fact get utilized to the structure of the website 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 threat this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row invest in these choices since you think is the best ones for you and that being said let’s dive directly 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 aspect that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates 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 likewise cover is the fees involved actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then might not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the costs 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 lastly some finest advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with charges truly crucial to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling okay so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish 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 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are free 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 when every six months you understand depends entirely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice 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 or perhaps some crypto so i’m great 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 anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they really giving you in regards to 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 instead you have to pay their charges now the terrific feature of though when you have actually converted your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent using that part of their website won’t certainly limit you in any way nevertheless we need to be aware of two other charges the first being what’s called spread costs 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 Yacht.
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