Not in fact having the total of capital…Vitalik Buterin Eos… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that option also so you in fact get used 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 of course your capital is at risk this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something since that individual has actually said they have actually made revenue 14 months in a row purchase these options because you think is the right ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included truly critical you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost websites then might not charge you for really buying and selling etfs or funds private commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually essential to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling all right so commission charges are totally free however there are a couple of other charges the very first one is withdrawal fees so you can certainly 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 on but when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those choices that they have a lot of platforms undoubtedly are totally 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 when every 6 months you understand depends completely how you’re investing however that is a charge to bear in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only 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 anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact offering you in terms of 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 provide me us dollars rather you have to pay their costs now the terrific thing about though when you’ve transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their site won’t certainly restrict you in any way however we need to know 2 other costs the first being what’s called spread fees fine and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Vitalik Buterin Eos.
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