Not actually having the full amount of capital…Michael Saylor Bitcoin Loses… so with anything that you’re learning about please do study the platform do not simply assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option too so you actually 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 of course your capital is at danger this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row buy these options due to the fact that you think is the best ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing incredible we do not typically 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 state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly important you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies 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 really buying and selling funds or etfs private commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you really start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with costs truly important to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission costs are free however there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put cash in now if you remain 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 on however when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say 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 someplace and withdrawal fees are simply one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends entirely 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 fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving 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 give me us dollars rather you have to pay their costs now the terrific thing about however 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 indicates the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent utilizing that part of their website won’t certainly limit you in any way nevertheless we have to know two other fees the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Michael Saylor Bitcoin Loses.
You are offered 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 however do not understand which system to choose, then this may be precisely what you need.