Not actually having the full amount of capital…Michael Saylor Bitcoin Is Hope… so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row invest in these choices due to the fact that you think is the best ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your cash will be simulated 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 cash in so we’re going to also cover is the fees involved really important you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge sites then might not charge you for actually buying and selling etfs or funds specific commodities specific 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 sort of costs 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 prior to you actually start purchasing 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 begin with charges actually essential to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling fine so commission fees are totally free however there are a number 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 money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those options that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you know depends completely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy 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 and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want 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 state offer me us dollars rather you need to pay their fees now the excellent aspect of though when you have actually transformed your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really good utilizing that part of their site won’t certainly limit you in any way nevertheless 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 imply on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Is Hope.
You are given 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 but do not understand which system to select, then this might be precisely what you need.