Not really having the full amount of capital…Michael Saylor Bitcoin Resources… so with anything that you’re learning more about please do study the platform don’t just presume 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 cash they consider that choice too so you really get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in real business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row buy these options since you believe is the right ones for you which being said 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 belongs to social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests if for example 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 costs included actually crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 a few of the no fee sites then may not charge you for actually buying and selling etfs or funds individual commodities individual 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 charges with in particular in this video the next would be things to understand prior to you actually start buying copy trading or copy portfolios and lastly some best suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges really important to understand these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission costs are complimentary however there are a couple of other charges the very first one is withdrawal charges so you can undoubtedly put money 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 in the future however when you wish to withdraw your cash 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 5 dollars per withdrawal so for me naturally 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 costs are just one of those options that they have a great deal of platforms obviously are 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 once every six months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s fine 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 great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two free trade anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists 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 state give me us dollars rather you need to pay their fees now the terrific aspect of however when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary 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 costs so that’s truly good utilizing that part of their website won’t definitely limit you in any way nevertheless we have to know two other charges 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 charge as i’m going to show you Michael Saylor Bitcoin Resources.
In general, traders who use EToro in Trading 212 will discover it to be one of the very best and simplest platforms to use. You are given many alternatives with this software application and you can configure it nevertheless you see fit. This makes it very flexible and user friendly. Plus, you get trading signals delivered right to you, which is a big plus. If you’re looking to start trading the forex market however don’t understand which system to pick, then this may be precisely what you require.