Not actually having the full amount of capital…Michael Saylor Bitcoin Resources… so with anything that you’re finding out about please do study the platform do not just assume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you in fact 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 of course your capital is at danger this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made profit 14 months in a row invest in these choices because you think is the right ones for you and that being said 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’s part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing incredible 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 indicates with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they buy they offer whatever they do your money will be imitated 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 likewise cover is the costs included really important you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business 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 zero cost websites then might not charge you for actually buying and selling etfs or funds private commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and finally 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 start with charges truly crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with really buying and selling fine so commission charges are totally free however there are a number of other fees the first one is withdrawal fees so you can clearly put money in now if you’re 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 in the future however when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those options that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing but that is a charge to remember the second charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 open market anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they really offering you in regards to 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 offer me us dollars instead you need to pay their charges now the great feature of however when you have actually converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great using that part of their website will not certainly limit you in any way however we have to understand 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Resources.
You are offered numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to select, then this may be precisely what you require.