Not in fact having the total of capital…Michael Saylor On Bitcoin Energy Consumption… so with anything that you’re discovering please do study the platform do not just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you in fact get used to the structure of the website and then 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 purchasing real companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually stated they have actually made revenue 14 months in a row purchase these options because you think is the best ones for you which being stated 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’s part of social trading which is one element that is most likely.
well-known for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly crucial 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 zero fee sites then might not charge you for actually buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees truly crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with actually buying and selling fine so commission fees are free nevertheless there are a couple of other costs the first one is withdrawal costs so you can undoubtedly put money in now if you remain 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 cash so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those choices that they have a lot of platforms clearly 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 six months you know depends totally how you’re investing however that is a cost to keep in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that matches 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 charge now when you use anybody so if you’re utilizing trading 2 and two free trade anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there 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 offer me us dollars rather you have to pay their charges now the excellent aspect of however when you’ve converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 extra charges so that’s truly good utilizing that part of their website will not definitely limit you in any way however we have to know two other charges the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Michael Saylor On Bitcoin Energy Consumption.
You are provided numerous options with this software application 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 may be exactly what you require.