Not in fact having the full amount of capital…Michael Saylor Bitcoin Wsj… so with anything that you’re finding out about please do study the platform do not just assume 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 cash they give that option also so you really get used 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 naturally your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row purchase these choices since you think is the best ones for you which being stated 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 element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for example 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 actually crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero fee websites then might not charge you for actually buying and selling funds or etfs specific products specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to understand prior to you in fact begin buying copy trading or copy portfolios and finally 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 kick off with costs actually crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission charges are free however there are a number of other charges the very first one is withdrawal costs so you can certainly put cash in now if you remain 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 however when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a fee to remember the 2nd charge that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and two open market anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually providing you in terms of 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 offer me us dollars instead you need to pay their fees now the fantastic thing about however when you have actually converted your cash you do not need to invest it right away 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 transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great utilizing that part of their website will not certainly limit you in any way nevertheless we need to be aware of 2 other charges the very first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Wsj.
You are provided lots of options with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to choose, then this might be precisely what you require.