Not really having the full amount of capital…Vitalik Buterin On Russia… so with anything that you’re finding out about please do study the platform do not simply assume since 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 choice as well so you in fact get used 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 of course your capital is at risk this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row invest in these choices due to the fact that you think is the best ones for you which being stated let’s dive directly 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 incredible we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved really crucial you understand what are the expenses of this now with any platform there will be some cost to certainly 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 cost websites then may not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges on other parts possibly 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 costs with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees actually important to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission costs are totally free however there are a couple of other costs the very first one is withdrawal fees 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 on however when you want to withdraw your money so you sell your shares you sell your products 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those alternatives 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 largely it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a charge to bear in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and two free trade anybody this is standard they have actually i expect 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 charge exists what are they really 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 terrific aspect of though when you have actually transformed your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary 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 extra charges so that’s actually excellent utilizing that part of their website will not definitely limit you in any way however we need to be aware of 2 other fees the first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin On Russia.
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