Not actually having the total of capital…Michael Saylor Bitcoin Introduction… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you in fact get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that person has said they have actually made profit 14 months in a row buy these choices since you think is the right ones for you which being said let’s dive directly 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 aspect that is most likely.
famous for it’s the alternative to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their financial 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 fees included really crucial you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge websites then might not charge you for actually buying and selling funds or etfs private commodities private stocks.
there’ll be charges on other parts perhaps 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 reveal you the costs with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with really buying and selling fine so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum quantity 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 make certain that i’m only withdrawing when i definitely need to now you may state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those options that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a cost to remember the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you kind of need 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 giving 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 say give me us dollars instead you have to pay their fees now the fantastic thing about though when you’ve converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means 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 additional charges so that’s truly great using that part of their site will not definitely limit you in any way nevertheless we have to know two other costs the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Introduction.
You are given many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be exactly what you need.