Not really having the full amount of capital…Michael Saylor Bitcoin Training… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re speaking about how to copy other people’s 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 individual has actually stated they have actually made revenue 14 months in a row buy these choices due to the fact that you believe is the right ones for you and that being stated 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 probably.
popular for it’s the option to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they buy they sell 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 costs involved really critical you understand what are the costs of this now with any platform there will be some cost to certainly 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 cost sites then might not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually essential to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling fine so commission charges are totally free nevertheless there are a couple of other costs the first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those options that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends totally how you’re investing but that is a fee to remember the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying 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 two open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually providing 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 rather you have to pay their costs now the excellent thing about however when you’ve converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash 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 additional fees so that’s really great utilizing that part of their website won’t certainly restrict you in any way however we have to be aware of two other charges the first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Training.
You are given many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to select, then this might be exactly what you require.