Not actually having the total of capital…Michael Saylor Explains Bitcoin… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get utilized to the structure of the site 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 danger this is investing we’re doing you’re buying real business if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row invest in these options since you believe is the ideal ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
popular for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates 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 fees included truly critical you comprehend 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 some of the absolutely no cost websites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with fees really crucial to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling alright so commission costs are complimentary nevertheless there are a couple of other charges the very first one is withdrawal charges so you can certainly put money 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 but when you want to withdraw your money so you offer your shares you offer 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 knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply among those options that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends completely how you’re investing but that is a charge to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two open market anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they really 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 offer me us dollars instead you have to pay their charges now the great aspect of however when you have actually converted your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent utilizing that part of their website won’t definitely restrict you in any way nevertheless we have to know two other costs the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Explains Bitcoin.
You are provided numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to choose, then this might be exactly what you need.