Not actually having the total of capital…Vitalik Buterin Luna… so with anything that you’re learning about please do study the platform do not just presume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you really 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 obviously your capital is at risk this is investing we’re doing you’re investing in genuine companies if you pick 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 threat and we have to bear that in mind do not just do something since that individual has actually stated they have actually made revenue 14 months in a row invest in these choices because you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the important 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 probably.
well-known for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests 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 costs involved actually 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 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 private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you in fact begin investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees actually important to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal charges so you can certainly put cash 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 later but when you want to withdraw your cash so you offer your shares you offer your commodities 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 of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those options that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a charge to bear in mind the second fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really 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 state offer me us dollars instead you have to pay their fees now the fantastic feature of though when you’ve transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 extra fees so that’s really excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand two other fees the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Vitalik Buterin Luna.
You are provided many options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be precisely what you need.