Not actually having the total of capital…Michael Saylor Crypto Wallet… so with anything that you’re learning more about please do study the platform don’t just presume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you actually get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they’ve made earnings 14 months in a row buy these choices since you believe is the ideal ones for you which being said let’s dive directly in [Music] so the important 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 aspect that is probably.
popular for it’s the option to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates 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 likewise cover is the charges included truly crucial you comprehend 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 purchasing the selling for you there’s going to be charges involved and even a few of the zero charge sites then might not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with fees really important to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling all right so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal costs so you can certainly put cash 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 on however when you want to withdraw your cash 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 knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state 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 costs someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing however that is a fee to bear in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that matches 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 cost now when you use anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee 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 say give me us dollars instead you have to pay their charges now the excellent aspect of however when you have actually transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies 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 fees so that’s actually good using that part of their site will not definitely limit you in any way however we need to know two other fees the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Crypto Wallet.
You are provided many options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to pick, then this might be exactly what you require.