Not actually having the full amount of capital…Michael Saylor Bitcoin Microstrategy… so with anything that you’re learning about please do study the platform do not simply presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you actually get utilized 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your money so clearly 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 revenue 14 months in a row buy these choices since you think is the ideal ones for you and that being stated 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 most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included truly vital you understand what are the expenses of this now with any platform there will be some cost to clearly 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 a few of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs individual commodities private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you actually start purchasing copy trading or copy portfolios and finally some finest advice 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 costs actually crucial to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling all right so commission costs are complimentary nevertheless there are a couple of other charges the first one is withdrawal costs so you can undoubtedly put cash 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 but when you want to withdraw your money so you offer your shares you sell your products 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those choices that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd fee that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits 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 good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they really 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 provide me us dollars instead you have to pay their fees now the excellent thing about 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 money dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent utilizing that part of their website won’t definitely restrict you in any way however we need to be aware of 2 other charges the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Microstrategy.
You are given lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to select, then this might be precisely what you require.