Not really having the full amount of capital…Michael Saylor Bitcoin Tweet… so with anything that you’re finding out about please do study the platform do not simply assume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you really get used to the structure of the site and then when you’re ready to utilize your own money 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 genuine business if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has actually stated they have actually made earnings 14 months in a row buy these choices due to the fact that you believe is the ideal ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for instance 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 also cover is the fees involved really crucial you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost sites then might not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts maybe 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 reveal you the charges with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with charges actually important to comprehend these now on there’s a couple of charges there isn’t costs to do with really buying and selling alright so commission costs are free however there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re selling 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 ensure that i’m only withdrawing when i definitely require to now you may say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those options that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they really offering 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 state provide me us dollars rather you have to pay their charges now the terrific thing about though when you have actually transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial 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 extra charges so that’s truly great using that part of their site won’t certainly restrict you in any way nevertheless we need to understand two other charges the first being what’s called spread costs fine 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 Tweet.
You are offered many choices 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 pick, then this may be exactly what you require.