Not really having the full amount of capital…Michael Saylor Btc Quotes… so with anything that you’re finding out about please do study the platform do not just assume because i use it that you can utilize it right away 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 site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk 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 obviously your capital is at danger and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these choices since you believe is the right ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially each 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 money in so we’re going to likewise cover is the costs included actually critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real 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 zero charge sites then may not charge you for in fact buying and selling funds or etfs specific products individual stocks.
there’ll be costs 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 show you the fees with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs truly essential to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling okay so commission charges are complimentary however there are a couple of other charges the first one is withdrawal charges so you can undoubtedly 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 wish to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum amount 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 ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among those choices that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing however that is a charge to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they actually 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 offer me us dollars rather you have to pay their costs now the excellent aspect of however when you have actually transformed your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary 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 extra fees so that’s truly good using that part of their website will not definitely limit you in any way however we need to know two other fees the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Michael Saylor Btc Quotes.
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