Not actually having the total of capital…Michael Saylor On Bitcoin Energy Consumption… so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you really get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row invest in these choices due to the fact that you think is the right ones for you and that being said let’s dive straight in [Music] so the 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 most likely.
well-known for it’s the option to see what other traders are doing amazing we do not generally get that insight from a lot of platforms and the other advantage 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 specific portfolio of choices and basically each time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included really crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge websites then may not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts perhaps 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 understand before you really begin buying copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really crucial to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission charges are free however there are a couple of other costs the first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state okay that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just one of 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 mainly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a cost to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say offer me us dollars instead you have to pay their charges now the fantastic thing about though when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great using that part of their website won’t certainly restrict you in any way however we have to know 2 other fees the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Michael Saylor On Bitcoin Energy Consumption.
You are given numerous options 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 pick, then this might be exactly what you require.