Not actually having the total of capital…Michael Saylor Bitcoin Is A Bank… so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re talking about how to copy other people’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row purchase these choices because you think is the best 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 most likely.
popular for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved actually vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee sites then might not charge you for really buying and selling funds or etfs specific 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 fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with costs really essential to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling all right so commission costs are free nevertheless there are a number of other fees the first one is withdrawal fees so you can certainly put money 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 on however when you want to withdraw your money so you offer your shares you offer 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 naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms clearly are totally free 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 know depends totally how you’re investing however that is a charge to keep in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 instead you need to pay their fees now the terrific aspect of however when you have actually converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their website will not definitely limit you in any way however we have to know 2 other fees the first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Michael Saylor Bitcoin Is A Bank.
You are provided numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not know which system to choose, then this might be exactly what you require.