Not actually having the full amount of capital…Michael Saylor Btc… so with anything that you’re finding out about please do study the platform do not simply presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative also so you in fact 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 obviously your capital is at threat this is investing we’re doing you’re buying genuine business if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually said they have actually made revenue 14 months in a row invest in these choices due to the fact that you think is the right ones for you which being said let’s dive directly 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 becomes part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing amazing we do not typically 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 money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for instance 10 of their 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 critical 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 included and even a few of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs specific commodities individual 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 type of charges 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 prior to you in fact begin buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly essential to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission costs are complimentary however there are a couple of other costs the first one is withdrawal fees so you can obviously put cash in now if you’re 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 offer 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 require to now you might say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms undoubtedly 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 6 months you know depends totally how you’re investing however that is a cost to remember the second fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and 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 utilizing trading two and two open market anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually providing 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 say provide me us dollars rather you have to pay their charges now the fantastic thing about though when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial 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 charges so that’s really good utilizing that part of their site won’t definitely limit you in any way nevertheless we need to know two other fees the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Btc.
You are offered numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to choose, then this may be precisely what you require.