Not in fact having the total of capital…Michael Saylor Bitcoin University… so with anything that you’re discovering please do study the platform do not simply assume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that option too so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row buy these choices because you think is the best ones for you which being stated let’s dive straight 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 belongs to social trading which is one aspect that is probably.
famous for it’s the option 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 therefore that indicates with our cash we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of options and basically each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for instance 10 of their financial 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 actually important you understand what are the costs of this now with any platform there will be some cost to obviously 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 a few of the absolutely no cost 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 possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 know before you really begin buying copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with costs truly important to comprehend these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission costs are complimentary however there are a number of other charges 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 in the future but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity 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 ensure that i’m just withdrawing when i absolutely need to now you might state alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those alternatives 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 largely it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing however that is a fee to bear in mind the second fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great 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 two open market anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you sort 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 in fact 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 need to pay their charges now the great aspect of however when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent utilizing that part of their website will not definitely limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin University.
You are given lots of options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this may be precisely what you need.