Not really having the full amount of capital…Michael Saylor Why Every Nomad Needs Bitcoin… so with anything that you’re learning more about please do study the platform do not simply assume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative also so you in fact get utilized to the structure of the site and after that when you’re ready to use your own cash 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 speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they’ve made earnings 14 months in a row buy these choices since you believe is the best ones for you which being stated 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 element that is most likely.
famous for it’s the option to see what other traders are doing incredible we don’t usually 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 money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for example 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 costs included truly important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real 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 no charge sites then might not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering 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 know before you really begin buying copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees truly important to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling okay so commission charges are totally free nevertheless there are a couple of other costs the first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those options that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd charge 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 buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway 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 utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually offering 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 state offer me us dollars instead you have to pay their costs now the terrific thing about though when you have actually transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means 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 fees so that’s really great using that part of their site won’t definitely restrict you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread cost as i’m going to show you Michael Saylor Why Every Nomad Needs Bitcoin.
You are provided lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this may be precisely what you need.