Not really having the full amount of capital…Michael Saylor Btc News… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get used to the structure of the website and after that when you’re ready to utilize 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 buying real companies if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row purchase these choices due to the fact that you think is the right ones for you which 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.
well-known 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 advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their 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 actually important 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 buying the selling for you there’s going to be charges included and even some of the no charge sites then may not charge you for actually buying and selling etfs or funds individual products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 start buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with costs actually important to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission charges are totally free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer your shares you offer your commodities 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 make sure that i’m just withdrawing when i absolutely require to now you might say fine that’s quite costly and i get that however 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 certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly 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 remember the second charge 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 and that’s great that suits 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 excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two free trade anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists 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 haggle with them you can’t go to the bank and state give me us dollars instead you need to pay their fees now the terrific thing about though when you have actually converted your cash you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their website won’t certainly restrict you in any way however we have to know 2 other charges the very first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Btc News.
You are given numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to pick, then this may be exactly what you require.