Not actually having the full amount of capital…Michael Saylor Crypto Wallet… so with anything that you’re learning about please do study the platform do not simply presume 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 cash they consider that alternative as well so you in fact get used to the structure of the site and after that 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 buying real business if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has stated they have actually made earnings 14 months in a row buy these options due to the fact that you believe is the ideal ones for you which 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 aspect that is probably.
well-known for it’s the choice to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included truly important you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no fee sites then might not charge you for actually buying and selling etfs or funds individual products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 know prior to you really start buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with fees actually essential to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling okay so commission charges are complimentary nevertheless there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering 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 make certain that i’m just withdrawing when i absolutely need to now you might say all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those alternatives that they have a great deal of platforms certainly are totally 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 once every 6 months you know depends totally how you’re investing but that is a cost to remember the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize 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 say give me us dollars instead you have to pay their costs now the fantastic thing about however when you’ve transformed your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their site won’t definitely restrict you in any way however we have to understand 2 other fees the first being what’s called spread charges 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 Crypto Wallet.
You are given many alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this may be precisely what you need.