Not in fact having the full amount of capital…Michael Saylor Bitcoin Own… so with anything that you’re learning about please do study the platform do not just assume since i utilize 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 alternative too so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they’ve made revenue 14 months in a row buy these choices because you think 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 aspect that is probably.
famous for it’s the option to see what other traders are doing amazing we don’t typically 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 cash we can actually say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for example 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 likewise cover is the charges involved actually crucial you understand what are the costs of this now with any platform there will be some expense to clearly these are real 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 etfs or funds private products private stocks.
there’ll be fees on other parts maybe 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 know prior to you actually begin buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with fees actually crucial to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission charges are complimentary however there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you sell 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those options that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends totally how you’re investing but that is a fee to remember the second cost that i have actually touched upon 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 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 excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they in fact 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 charges now the great feature of however when you have actually transformed your money 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 suggests the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their site won’t certainly limit you in any way nevertheless we have to understand two other fees the very first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor Bitcoin Own.
You are provided many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this may be exactly what you require.