Not really having the full amount of capital…Michael Saylor Bitcoin News Today… so with anything that you’re learning more about please do study the platform don’t simply assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row invest in these choices because you think is the ideal 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 becomes part of social trading which is one element that is probably.
popular for it’s the choice 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 and so that implies with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates if for instance 10 of their 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 costs involved truly crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with fees really crucial to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling alright so commission fees are free however there are a couple of other costs 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 immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those alternatives that they have a lot of platforms certainly are 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 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy 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 perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact offering 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 offer me us dollars instead you need to pay their charges now the fantastic aspect of however when you have actually converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their website will not definitely restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread costs all right and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin News Today.
You are given many choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to choose, then this may be exactly what you need.