Not actually having the total of capital…Michael Saylor Bitcoin Summit… so with anything that you’re discovering please do study the platform do not simply assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you really get utilized 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 threat this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row invest in these choices because you believe is the best ones for you and that being said let’s dive directly 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.
popular for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included truly vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing 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 actually buying and selling etfs or funds specific commodities specific 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 kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some finest advice finest 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 charges truly crucial to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling all right so commission fees are totally free nevertheless there are a couple of other fees the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk cash.
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 money so you offer your shares you sell your products 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 understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing but that is a charge to keep in mind the second cost that i’ve 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 and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact providing you in terms of 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 have to pay their charges now the terrific aspect of though when you have actually converted 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 implies the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their site will not certainly restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread cost as i’m going to show you Michael Saylor Bitcoin Summit.
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 do not know which system to choose, then this might be exactly what you require.