Not in fact having the full amount of capital…Michael Saylor Bitcoin Twitter… so with anything that you’re learning about please do study the platform don’t simply assume since i utilize 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 option also so you actually get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually said they have actually made revenue 14 months in a row invest in these options due to the fact that you think is the best ones for you which 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 becomes 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 usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they purchase they offer 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 charges involved really vital you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine business 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 no fee sites then might not charge you for in fact buying and selling etfs or funds specific commodities private 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 type of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you in fact begin buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really crucial to understand these now on there’s a couple of fees there isn’t charges to do with really buying and selling alright so commission fees are totally free however there are a number of other charges 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 in the future however when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those alternatives 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 mainly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there 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 state give me us dollars rather you need to pay their charges now the excellent thing about however when you have actually converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 additional fees so that’s really good using that part of their website will not definitely restrict you in any way however we have to understand two other fees the first being what’s called spread fees okay 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 Twitter.
You are offered lots of choices 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 understand which system to choose, then this may be precisely what you require.