Not in fact having the total of capital…Michael Saylor Bitcoin Academy… so with anything that you’re discovering please do study the platform don’t just presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you in fact get used to the structure of the website 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 threat this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row purchase these choices since you think is the ideal ones for you and that being said 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’s part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really state i want to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that suggests if for example 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 costs involved actually important you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine 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 websites then might not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be costs on other parts possibly 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 fees with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges actually important to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling all right so commission costs are complimentary nevertheless there are a couple of other charges the first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just among those choices that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing but that is a fee to bear in mind the second fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they in fact offering 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 provide me us dollars rather you need to pay their costs now the terrific thing about however when you’ve transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their site will not certainly restrict you in any way however we need to understand 2 other fees the first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Michael Saylor Bitcoin Academy.
You are provided numerous choices 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 understand which system to select, then this might be exactly what you require.