Not really having the full amount of capital…Michael Saylor Bitcoin Video… so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something since that person has said they have actually made profit 14 months in a row invest in these choices because you think is the best ones for you and that being said let’s dive straight 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 most likely.
famous for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests 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 included really important you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero charge sites then may not charge you for actually buying and selling etfs or funds specific products specific stocks.
there’ll be charges 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 reveal you the fees with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with fees really important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission fees are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re 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 wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say alright that’s quite pricey 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 just one of those alternatives that they have a great deal of platforms certainly are 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 when every six months you know depends totally how you’re investing but that is a fee to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost 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 state provide me us dollars instead you need to pay their fees now the great aspect of however when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash 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 additional costs so that’s truly great utilizing that part of their site will not definitely restrict you in any way however we need to understand two other costs the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread cost as i’m going to show you Michael Saylor Bitcoin Video.
You are provided numerous alternatives with this software application 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.