Not really having the full amount of capital…Michael Saylor Bitcoin Training… so with anything that you’re discovering please do study the platform do not simply assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option too so you really get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that individual has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that being stated let’s dive straight 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 element that is probably.
popular for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for instance 10 of their 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 fees involved truly crucial you understand what are the expenses of this now with any platform there will be some cost to clearly these are real 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 sites then might not charge you for in fact buying and selling etfs or funds private products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 know prior to you really begin purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees actually crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission charges 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 cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish 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 of course knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those choices that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually 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 fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two open market anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they really giving 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 say provide me us dollars rather you have to pay their charges now the terrific feature of though when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their site will not definitely restrict you in any way however we need to understand 2 other costs the first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread fee as i’m going to show you Michael Saylor Bitcoin Training.
You are provided lots of choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be precisely what you need.