Not really having the full amount of capital…Michael Saylor Bitcoin Introduction… so with anything that you’re finding out about please do study the platform don’t simply assume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you in fact get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something because that person has actually said they’ve made profit 14 months in a row buy these options since you think is the best ones for you which being said let’s dive directly 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 aspect that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included truly critical you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero cost sites then may not charge you for really buying and selling etfs or funds individual products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand prior to you really start investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually crucial to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling fine so commission fees are free however there are a couple of other costs the very first one is withdrawal costs so you can undoubtedly 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 in the future but when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state alright that’s quite 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 costs are just one of those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends completely how you’re investing but that is a fee to bear in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost 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 instead you have to pay their costs now the fantastic feature of however when you have actually transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good using that part of their site won’t definitely limit you in any way however we need to be aware of two other charges the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Introduction.
You are given lots of options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t understand which system to choose, then this may be exactly what you require.