Not in fact having the total of capital…Michael Saylor Bitcoin Tweet… so with anything that you’re learning more about please do study the platform do not just assume because i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you really get used to the structure of the website 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 threat this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row buy these choices since you think is the ideal ones for you and that being stated let’s dive directly 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 element that is probably.
popular for it’s the option to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and generally whenever 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 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 costs involved really crucial you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for really buying and selling funds or etfs private products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 really begin investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees really important to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling all right so commission fees are totally free however there are a couple of other costs the very first one is withdrawal fees so you can clearly put cash in now if you remain 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 in the future but when you want to withdraw your money so you offer your shares you offer your commodities 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 make certain that i’m just withdrawing when i absolutely need to now you may say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those options that they have a lot of platforms obviously are complimentary 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 as soon as every 6 months you know depends totally how you’re investing however that is a cost to bear in mind the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 free trade anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they in fact giving 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 provide me us dollars instead you need to pay their fees now the great aspect of though when you’ve transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their website won’t certainly limit you in any way however we need to know two other charges the very first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Tweet.
You are offered numerous 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 pick, then this might be exactly what you need.