Not actually having the full amount of capital…Michael Saylor Bitcoin Wsj… so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize 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 really get used to the structure of the website and after that when you’re ready to utilize your own money 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 purchasing real business if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something because that individual has actually said they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you which being said let’s dive directly 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 aspect that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their 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 charges involved truly vital you understand what are the costs of this now with any platform there will be some expense to certainly these are real 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 zero cost websites then might not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to understand prior to you actually begin purchasing copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with fees actually crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling okay so commission costs are free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer your shares you offer 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 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 expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply among those choices that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a charge to remember the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only 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 anyhow 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 cost now when you utilize anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i expect stuck with whatever cost 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 cost exists what are they really offering you in terms of 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 offer me us dollars rather you need to pay their fees now the fantastic aspect of though when you’ve converted your money you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their site won’t definitely restrict you in any way nevertheless we have to know 2 other charges the very first being what’s called spread costs okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Wsj.
You are provided lots of options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to pick, then this might be exactly what you require.