Not actually having the full amount of capital…Michael J. Saylor Bitcoin Holding… 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 utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option as well so you in fact get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine business if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they’ve made profit 14 months in a row invest in these options since you believe is the best ones for you and that being stated let’s dive straight in [Music] 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.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost websites then might not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with charges truly essential to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission fees are totally free however there are a couple of other fees the first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling the minimum quantity 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 make certain that i’m only withdrawing when i absolutely require to now you might state okay 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 someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms undoubtedly are complimentary 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 when every six months you understand depends totally how you’re investing however that is a charge to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and 2 open market anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact 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 give me us dollars rather you have to pay their charges now the great thing about though 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 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 takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their site will not certainly limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Michael J. Saylor Bitcoin Holding.
You are offered lots of alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to choose, then this might be precisely what you need.