Not really having the total of capital…Michael Saylor Bitcoin Podcast… so with anything that you’re learning about please do study the platform don’t simply assume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you actually get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something since that person has actually stated they have actually made earnings 14 months in a row buy these options because you think is the ideal ones for you and that being stated let’s dive straight 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 probably.
famous for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they offer 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 included truly vital you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero cost sites then might not charge you for really buying and selling funds or etfs individual products private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 actually begin buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs really important to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling alright so commission charges are free nevertheless there are a number of other fees the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply among those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing but that is a fee to keep in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
a lot 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 cost now when you utilize anybody so if you’re using trading two and 2 open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact providing 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 say give me us dollars instead you have to pay their fees now the excellent feature of though when you’ve transformed your cash you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform 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 good utilizing that part of their site won’t certainly limit you in any way however we have to understand two other costs the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you Michael Saylor Bitcoin Podcast.
You are offered lots of options 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 select, then this may be exactly what you require.