Not really having the full amount of capital…Vitalik Buterin Eos… so with anything that you’re learning more about please do study the platform do not just presume because 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 give that option also so you actually get used to the structure of the site and after that 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 purchasing genuine companies if you select to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they have actually made revenue 14 months in a row purchase these choices because you think is the ideal ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
famous for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for example 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 also cover is the charges involved actually vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge websites then might not charge you for in fact buying and selling funds or etfs specific products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 really start investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with fees actually important to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission costs are totally free nevertheless there are a couple 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 money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount 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 sure that i’m just withdrawing when i absolutely need to now you might say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those choices that they have a lot of platforms clearly are complimentary 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 however that is a cost to bear in mind the second charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you sort 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 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 say give me us dollars rather you need to pay their charges now the great thing about however when you have actually converted your money you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 fees so that’s truly great utilizing that part of their site won’t definitely restrict you in any way however we have to understand 2 other costs the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Vitalik Buterin Eos.
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