Not really having the total of capital…Vitalik Buterin On Luna… so with anything that you’re finding out about please do study the platform don’t just assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too 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 of course your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has actually said they have actually made revenue 14 months in a row invest in these choices because you think is the right ones for you which being stated let’s dive directly 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’s part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for instance 10 of their 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 fees involved actually important you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine 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 zero charge sites then might not charge you for really buying and selling etfs or funds private products individual stocks.
there’ll be costs on other parts perhaps 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 charges with in particular in this video the next would be things to know prior to you in fact begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really important to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission fees are free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can obviously 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 however when you wish 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 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends entirely how you’re investing but that is a cost to remember the second fee that i have actually discussed 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 suits 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 use anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they actually offering 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 provide me us dollars instead you need to pay their fees now the excellent aspect of though when you’ve transformed your money you do not need to invest it right away that dollar value can sit 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 happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their site will not definitely restrict you in any way however we need to understand two other costs the first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread fee as i’m going to show you Vitalik Buterin On Luna.
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