Not actually having the full amount of capital…Michael Saylor Bitcoin Konferenz… so with anything that you’re finding out about please do study the platform don’t just assume since 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 money they consider that alternative as well so you in fact get used to the structure of the website and after that 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 investing in real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has said they’ve made earnings 14 months in a row buy these options due to the fact that you think is the best ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes 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 typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i want to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included really crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee sites then may not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 really begin purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees actually essential to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling okay so commission costs are free nevertheless there are a number of other fees the first one is withdrawal charges so you can certainly put money in now if you remain 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 offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state okay 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 somewhere and withdrawal fees are just among those alternatives that they have a lot of platforms undoubtedly are complimentary 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 as soon as every six months you understand depends entirely how you’re investing however that is a fee to bear in mind the second fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars just 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 buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and two free trade anybody this is basic they have actually i suppose stuck with whatever charge 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 cost exists what are they really providing you in terms of 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 state give me us dollars instead you have to pay their costs now the excellent thing about however when you have actually converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money 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 takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really great using that part of their site will not definitely limit you in any way however we have to know 2 other costs the first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Michael Saylor Bitcoin Konferenz.
You are given numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to pick, then this might be exactly what you need.