Not actually having the total of capital…Michael Saylor Bitcoin Lost… so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option too so you really 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 danger this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has stated they’ve made earnings 14 months in a row invest in these choices because you think is the ideal ones for you and that being said let’s dive straight 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 probably.
well-known for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that means 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 likewise cover is the costs included actually vital you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge sites then might not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 before you actually begin purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with charges actually crucial to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling all right so commission fees are complimentary nevertheless there are a number of other costs the first one is withdrawal fees so you can certainly put cash in now if you remain 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 on but when you wish to withdraw your cash so you sell your shares you offer your products 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply among those choices that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s great that fits 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 fee now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact offering 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 state give me us dollars instead you have to pay their costs now the excellent aspect of though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their website won’t certainly restrict you in any way however we need to understand two other fees the very first being what’s called spread charges fine and i’m going to show you what i imply on now a spread cost as i’m going to show you Michael Saylor Bitcoin Lost.
You are provided numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to choose, then this might be precisely what you need.