Not in fact having the full amount of capital…Michael Saylor Bitcoin Basics… so with anything that you’re finding out about please do study the platform don’t simply assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice too so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated let’s dive straight 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 unbelievable we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for instance 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 also cover is the costs included truly crucial you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies 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 no charge sites then might not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with costs really important to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission fees are free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering 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 understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might say alright that’s rather 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 charges are simply one of those options that they have a great deal of platforms clearly are totally 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 once every six months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually 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 cost is there what are they really offering 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 rather you have to pay their fees now the fantastic aspect of however when you have actually converted your cash you do not need to invest it immediately that dollar value can being in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent utilizing that part of their website will not certainly restrict you in any way nevertheless we need to be aware of 2 other fees the first being what’s called spread fees all right and i’m going to show you what i mean on now a spread fee as i’m going to show you Michael Saylor Bitcoin Basics.
You are offered numerous alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to select, then this might be precisely what you need.