Not really having the full amount of capital…Vitalik Buterin Gavin Wood… so with anything that you’re finding out about please do study the platform do not just presume since i utilize 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 also so you actually get utilized to the structure of the site 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 risk 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 financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for example 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 charges included truly crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine business 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 fee sites then might not charge you for actually buying and selling etfs or funds private products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with fees actually crucial to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling alright so commission charges are complimentary nevertheless there are a couple of other charges the very first one is withdrawal costs so you can obviously put cash in now if you’re 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 however when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may say fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those options that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a charge to bear in mind the 2nd fee 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 fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually offering 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 offer me us dollars rather you need to pay their charges now the terrific aspect of though when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent utilizing that part of their website will not certainly restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to show you Vitalik Buterin Gavin Wood.
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