Not in fact having the full amount of capital…Michael Saylor On Bitcoin Drop… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you actually 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 naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that individual has actually said they’ve made profit 14 months in a row buy these options due to the fact that you think is the right ones for you and that 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 becomes part of social trading which is one aspect that is probably.
famous for it’s the choice to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your cash 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 really vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for actually buying and selling etfs or funds individual commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees really important to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling fine so commission charges are complimentary nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re offering 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 knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those choices that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and two free trade anybody this is basic they have actually i suppose stuck to whatever fee 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 charge is there what are they actually 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 offer me us dollars rather you have to pay their fees now the terrific feature of however when you have actually converted your cash you do not have to invest it right now that dollar value 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 charges so that’s truly excellent utilizing that part of their site won’t certainly restrict you in any way however we have to understand 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Michael Saylor On Bitcoin Drop.
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