Not really having the total of capital…Michael Saylor Bitcoin Wallet… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you in fact get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has said they’ve made profit 14 months in a row purchase these choices since you think is the best ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for instance 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 also cover is the charges involved truly important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee websites then might not charge you for actually buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand before you actually start investing in copy trading or copy portfolios and finally some best advice best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with fees actually essential to understand these now on there’s a couple of charges there isn’t fees to do with actually buying and selling alright so commission fees are totally free nevertheless there are a number of other charges the very first one is withdrawal fees so you can clearly put money 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 but when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a great deal of platforms certainly are free 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 when every 6 months you understand depends entirely how you’re investing but that is a charge to keep in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’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 fee now when you utilize anybody so if you’re using trading two and two open market anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really giving 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 say provide me us dollars rather you have to pay their fees now the terrific feature of though when you have actually transformed your cash you do not have to invest it immediately 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 buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site will not definitely limit you in any way however we have to know 2 other fees the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Michael Saylor Bitcoin Wallet.
You are provided lots of alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this might be precisely what you require.