Not in fact having the full amount of capital…Michael Saylor On Bitcoin Youtube… so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row buy these choices since you think is the ideal ones for you and that being stated 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 probably.
popular for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates if for example 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 likewise cover is the charges involved really vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero cost sites then might not charge you for actually buying and selling etfs or funds private products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 understand prior to you really begin purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly essential to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling alright so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can obviously put cash in now if you remain 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 however when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those alternatives that they have a great deal 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 perhaps even once a year once every 6 months you understand depends completely how you’re investing however that is a cost to remember the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 cost now when you use anybody so if you’re using trading two and two open market anyone at all this is standard they have i suppose stuck with whatever charge 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 fee 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 haggle with them you can’t go to the bank and state give me us dollars rather you need to pay their costs now the excellent thing about however when you’ve transformed your money you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 costs so that’s actually good utilizing that part of their site will not definitely restrict you in any way however we need to understand 2 other fees the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor On Bitcoin Youtube.
You are offered many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not understand which system to pick, then this may be exactly what you need.