Not really having the full amount of capital…Michael Saylor Bitcoin Mining… so with anything that you’re discovering please do study the platform do not just assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash 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 investing in genuine business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something since that individual has said they have actually made earnings 14 months in a row purchase these choices due to the fact that 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 most likely.
famous for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 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 likewise cover is the fees involved actually important you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 some of the zero fee websites then might not charge you for actually buying and selling funds or etfs individual products private 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 sort of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with costs really crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling okay so commission charges are totally free nevertheless there are a couple of other charges the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish 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 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you may say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a lot of platforms obviously are complimentary 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 as soon as every 6 months you know depends completely how you’re investing but that is a charge to bear in mind the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase 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 good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two free trade anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there 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 state provide me us dollars rather you have to pay their costs now the great aspect of though when you’ve converted your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their site won’t certainly limit you in any way however we need to know two other charges the first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread charge as i’m going to show you Michael Saylor Bitcoin Mining.
You are provided lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to choose, then this might be precisely what you require.