Not in fact having the full amount of capital…Michael Saylor Bitcoin Standard… so with anything that you’re learning about please do study the platform don’t simply presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you in fact get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has stated they’ve made profit 14 months in a row buy these choices since you think is the best ones for you and that being stated let’s dive straight in [Music] so the 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.
popular for it’s the alternative to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved really important you comprehend what are the costs of this now with any platform there will be some cost 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 a few of the absolutely no cost websites then may not charge you for really buying and selling etfs or funds specific products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs really important to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission costs are totally free however there are a couple of other fees the very first one is withdrawal costs so you can clearly 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 but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those choices that they have a lot of platforms obviously are free to do such things has this 5 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 however that is a cost to keep in mind the second fee that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that suits 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 charge now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is basic they have i expect stuck to whatever cost 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 regards to 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 need to pay their costs now the terrific aspect of however when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their website won’t certainly limit you in any way however we have to be aware of two other fees 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 charge as i’m going to show you Michael Saylor Bitcoin Standard.
You are offered lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this may be exactly what you need.