Not really having the total of capital…Vitalik Buterin High School… so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something since that person has actually said they’ve made revenue 14 months in a row invest in these choices because you think is the ideal ones for you and that being said let’s dive straight 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 element that is most likely.
famous for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies 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 charges included truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real 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 absolutely no fee sites then may not charge you for actually buying and selling etfs or funds specific commodities individual 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 sort of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with fees really essential to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling alright so commission costs are free nevertheless there are a number of other costs the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you sell 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 five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state all right that’s rather costly and i get that but 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 alternatives that they have a lot of platforms undoubtedly are 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 as soon as every 6 months you understand depends totally how you’re investing but that is a cost to remember the second fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good 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 open market anybody this is basic they have actually i suppose stuck with whatever charge 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 fee is there what are they really providing 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 instead you have to pay their fees now the excellent aspect of however when you have actually transformed your cash you do not need 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good using that part of their website will not certainly restrict you in any way nevertheless we have to be aware of 2 other fees the very first being what’s called spread fees okay and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Vitalik Buterin High School.
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