Not really having the total of capital…Michael Saylor Bitcoin Standard… so with anything that you’re learning about please do study the platform don’t just assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you in fact get utilized to the structure of the site and after that 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 purchasing real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has actually stated they have actually made revenue 14 months in a row invest in these choices because you think is the right ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
popular for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore 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 alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that means if for instance 10 of their 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 charges involved actually important you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then might not charge you for really buying and selling etfs or funds private commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 prior to you really start purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with costs actually crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission fees are complimentary however there are a number of other fees the very first one is withdrawal fees 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 but when you wish to withdraw your cash so you offer your shares you offer 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 need to now you may say fine 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 somewhere and withdrawal charges are just one of those choices that they have a lot of platforms obviously 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 when every six months you know depends completely how you’re investing however that is a cost to bear in mind the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they actually giving you in regards to 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 offer me us dollars rather you need to pay their fees now the fantastic feature of though when you’ve transformed your cash 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 suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their site won’t certainly restrict you in any way however we have to be aware of two other charges the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Standard.
You are provided lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this might be precisely what you require.