Not in fact having the total of capital…Vitalik Buterin On Luna… so with anything that you’re discovering please do study the platform do not simply presume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you actually get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row buy these choices since you think is the right ones for you and that being stated 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.
well-known for it’s the option to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for instance 10 of their 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 truly critical you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies 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 absolutely no cost websites then may not charge you for in fact buying and selling funds or etfs private products individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually crucial to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling fine so commission charges are totally free however there are a number of other charges the very first one is withdrawal charges so you can certainly 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 however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this 5 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 however that is a cost 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 purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact giving you in terms of 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 offer me us dollars instead you need to pay their charges now the terrific feature of however when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really good using that part of their site will not certainly limit you in any way nevertheless we have to know 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Vitalik Buterin On Luna.
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