Not in fact having the total of capital…Michael Saylor Bitcoin Twitter… so with anything that you’re learning about please do study the platform don’t simply assume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also 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 companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something since that person has actually stated they’ve made revenue 14 months in a row purchase these choices due to the fact that you believe is the right ones for you and that 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’s part of social trading which is one aspect that is probably.
famous for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies 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 charges involved really important you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then may not charge you for in fact buying and selling funds or etfs specific products private 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 fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact begin buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually essential to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling fine so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put cash in now if you remain 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 later but when you wish to withdraw your money so you sell your shares you offer your commodities 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 ensure that i’m just withdrawing when i definitely need to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those options that they have a great deal of platforms clearly are totally free 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 when every six months you know depends completely how you’re investing however that is a cost to remember the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and 2 open market anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing you in regards to 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 rather you have to pay their charges now the excellent feature of however when you’ve transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good using that part of their site won’t certainly restrict you in any way however we need to be aware of 2 other fees the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Michael Saylor Bitcoin Twitter.
You are given many alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to choose, then this might be exactly what you require.