Not really having the full amount of capital…Michael Saylor Bitcoin Course… so with anything that you’re learning more about please do study the platform don’t simply presume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you in fact get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that individual has stated they have actually made profit 14 months in a row invest in these options due to the fact that you believe is the best ones for you which being said let’s dive directly 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 amazing we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved actually vital you understand what are the costs of this now with any platform there will be some expense to obviously 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 absolutely no fee sites then might not charge you for actually buying and selling funds or etfs individual products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering 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 know prior to you in fact begin investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually important to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling alright so commission fees are totally free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those options that they have a lot of platforms certainly are free 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 six months you know depends completely how you’re investing however that is a cost to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really 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 state provide me us dollars rather you need to pay their charges now the fantastic aspect of however when you’ve converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 good using that part of their website won’t definitely limit you in any way however we need to be aware of two other charges the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Course.
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.