Not really having the total of capital…Michael Saylor Bitcoin Is Hope… so with anything that you’re learning about please do study the platform do not simply presume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you actually get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually stated they have actually made revenue 14 months in a row invest in these choices since you think is the right ones for you and that 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 element that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for example 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 charges included actually crucial you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business 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 no fee websites then may not charge you for in fact buying and selling etfs or funds private 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 costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and lastly some finest 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 kick off with fees truly essential to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling alright so commission fees are free nevertheless there are a number of other charges the 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 sell your shares you sell your products 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 knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply one of those choices that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and two open market anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they actually giving you in regards to 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 say give me us dollars instead you need to pay their charges now the fantastic aspect of however when you’ve transformed your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their site will not definitely restrict you in any way nevertheless we have to know 2 other fees the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Is Hope.
You are offered many alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this may be precisely what you require.