Not really having the total of capital…Michael Saylor Ross Stevens Bitcoin… so with anything that you’re finding out about please do study the platform don’t just presume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you actually get used to the structure of the site 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 investing in genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row purchase these options due to the fact that 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact say i wish to do exactly 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 cash will be mimicked with it so that means 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 charges included really critical you understand what are the costs of this now with any platform there will be some cost 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 no fee sites then may not charge you for really buying and selling funds or etfs private products specific 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 sort 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 know prior to you really start buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with charges really essential to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling fine so commission fees are free however there are a number of other charges the very first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk cash.
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 cash so you offer your shares you offer your products 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 of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those choices that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a cost to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine 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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really offering you in regards to 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 state offer me us dollars rather you have to pay their fees now the great thing about though when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash 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 additional charges so that’s actually good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other charges the first being what’s called spread charges 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 Ross Stevens Bitcoin.
You are offered many alternatives with this software 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 select, then this may be exactly what you require.