Not in fact having the total of capital…Michael Saylor Bitcoin Bond… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real business if you choose 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 risk and we need to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row purchase these choices since you think is the ideal 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 aspect that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates 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 also cover is the charges involved actually vital 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 included and even some of the absolutely no charge sites then might not charge you for really buying and selling etfs or funds private products individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with costs actually crucial to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission costs are complimentary however there are a number of other costs the very first one is withdrawal fees so you can certainly put money in now if you remain 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 in the future however when you wish to withdraw your cash so you offer your shares you sell 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just one of those choices that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends entirely how you’re investing but that is a fee to keep in mind the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact offering you in terms of 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 have to pay their charges now the great aspect of however when you’ve converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their site won’t definitely restrict you in any way however we need to be aware of two other costs the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor Bitcoin Bond.
You are provided lots of choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be precisely what you require.