Not actually having the total of capital…Michael J. Saylor Bitcoin… so with anything that you’re learning about please do study the platform do not just presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you really get utilized to the structure of the website and then 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 investing in genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that person has actually said they’ve made profit 14 months in a row purchase these choices since you think is the right ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved truly critical you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business 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 sites then may not charge you for actually buying and selling funds or etfs private commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 understand before you really begin buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges actually essential to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling fine so commission fees are complimentary however there are a couple of other fees the first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however 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 five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those choices that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to keep in mind the 2nd cost 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 buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even 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 2 and 2 open market anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you type 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 in fact 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 feature of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests 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 extra charges so that’s really excellent using that part of their website will not definitely restrict you in any way however we have to understand 2 other fees the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Michael J. Saylor Bitcoin.
You are given many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not know which system to select, then this may be precisely what you need.