Not actually having the full amount of capital…Michael Saylor Bitcoin Deutsch… so with anything that you’re learning more about please do study the platform do not just presume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you actually get used to the structure of the site and then when you’re ready to use your own cash 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 purchasing real business if you select to in this particular video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something because that person has actually said they have actually made revenue 14 months in a row invest in these options because you believe is the ideal ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
well-known for it’s the choice 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 therefore that means with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that suggests if for instance 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 also cover is the fees involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 a few of the absolutely no cost websites then might not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
there’ll be charges 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 understand prior to you in fact start buying copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with costs truly crucial to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling okay so commission fees are totally free however there are a number of other charges the first one is withdrawal charges so you can undoubtedly put money in now if you’re 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 in the future but when you want to withdraw your money so you sell your shares you sell your products 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 understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those options that they have a great deal of platforms undoubtedly are totally 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 understand depends entirely how you’re investing but that is a fee to keep in mind the second charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact giving 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 give me us dollars instead you need to pay their charges now the terrific feature of though when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site will not certainly restrict you in any way nevertheless we have to be aware of two other charges the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Michael Saylor Bitcoin Deutsch.
You are given lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this may be precisely what you require.