Not actually having the full amount of capital…Vitalik Buterin Luna… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you in fact get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row buy these options because you think is the right ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for example 10 of their financial investment portfolio remains 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 important you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly 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 some of the no charge sites then may not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 understand prior to you actually begin investing in copy trading or copy portfolios and lastly some finest recommendations finest 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 truly essential to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling okay so commission charges are totally free however there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk money.
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 cash so you offer your shares you sell your commodities whatever you’re offering 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 understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those alternatives that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a charge to remember the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 state give me us dollars instead you have to pay their charges now the fantastic thing about however when you’ve converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their website won’t certainly limit you in any way however we need to understand 2 other charges the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Vitalik Buterin Luna.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this might be exactly what you require.