Not really having the full amount of capital…Michael Saylor On Bitcoin Drop… so with anything that you’re learning about please do study the platform do not just presume because i use 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 give that option too so you really get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row purchase these choices since you believe is the ideal ones for you and that being said 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 probably.
famous for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies 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 included truly important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no fee websites then may not charge you for in fact buying and selling funds or etfs specific commodities private 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 sort of fees 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 know before you actually start 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 advanced investor so let’s begin with fees actually essential to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling fine so commission fees are complimentary nevertheless there are a couple of other charges the very first one is withdrawal costs so you can obviously put money in now if you remain 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 sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those alternatives that they have a lot of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you know depends completely how you’re investing however that is a fee to keep in mind the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that matches 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 anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion cost is there 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 instead you need to pay their costs now the fantastic aspect of however when you have actually transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great utilizing that part of their website will not definitely restrict you in any way however we need to know two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor On Bitcoin Drop.
You are offered lots of alternatives 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 choose, then this might be precisely what you require.