Not actually having the full amount of capital…Vitalik Buterin Linkedin… so with anything that you’re finding out about please do study the platform do not just presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you in fact get utilized 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 naturally your capital is at threat this is investing we’re doing you’re buying real business if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they have actually made revenue 14 months in a row invest in these choices since you think 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 aspect that is probably.
famous 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 suggests with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of options and generally every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that means 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 costs included really important you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge sites then might not charge you for in fact 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 altering from uk to u.s dollars there’s all kinds of costs 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 really start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs really crucial to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission charges 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 on but when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum amount 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 ensure that i’m just withdrawing when i absolutely need to now you may state alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those options 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 mostly it can be maybe even once a year when every six months you understand depends entirely how you’re investing but that is a charge to remember the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy 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 great 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 anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 rather you have to pay their charges now the terrific thing about though when you have actually transformed your money 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 suggests the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their website will not definitely limit you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Vitalik Buterin Linkedin.
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