Not in fact having the total of capital…Michael Saylor Bitcoin Ownership… so with anything that you’re discovering please do study the platform do not simply assume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you really get used to the structure of the site and after that 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 purchasing genuine business if you select to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not just do something because that person has actually stated they have actually made earnings 14 months in a row buy these choices since you think is the ideal ones for you and that being said let’s dive straight in [Music] so 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 most likely.
famous for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for example 10 of their investment portfolio is 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 truly important you understand what are the expenses of this now with any platform there will be some expense to clearly 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 zero cost websites then may not charge you for actually buying and selling etfs or funds individual products 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 charges 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 really begin purchasing copy trading or copy portfolios and finally 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 actually crucial to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling all right so commission costs are totally free however there are a number of other fees the very first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you sell 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 knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a charge to bear in mind the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and 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 using trading two and two open market anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact 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 have to pay their costs now the terrific feature of though when you have actually converted your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent using that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other charges the very first being what’s called spread charges all right 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 Ownership.
You are given numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to select, then this might be exactly what you require.