Not really having the full amount of capital…Michael Saylor Bitcoin Forecast… so with anything that you’re learning more about please do study the platform do not just presume because i utilize 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 also so you really get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do exactly what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved really vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business 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 cost websites then may not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts maybe 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 charges 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 guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges really important to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling alright so commission charges are complimentary however there are a couple of other costs the first one is withdrawal costs so you can obviously put cash in now if you remain 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 later on but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum amount 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 just withdrawing when i definitely need to now you may state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those options that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing but that is a charge to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there 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 give me us dollars instead you need to pay their charges now the fantastic feature of though when you have actually transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their website won’t certainly limit you in any way nevertheless we have to understand two other costs the very first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Michael Saylor Bitcoin Forecast.
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