Not actually having the total of capital…Michael Saylor Bitcoin Bull… so with anything that you’re learning more about please do study the platform don’t simply assume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that option too so you in fact get utilized 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 obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re discussing how to copy other individuals’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 because that person has actually stated they have actually made revenue 14 months in a row invest in these options due to the fact that you think is the best ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
famous for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be mimicked 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 likewise cover is the fees included actually critical you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no charge sites then may not charge you for actually buying and selling funds or etfs private products individual 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 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 understand before you really start buying copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with charges actually crucial to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling all right so commission fees are free nevertheless there are a couple of other costs the 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 in the future but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say okay that’s rather 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 alternatives that they have a great deal 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 maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a fee to bear in mind the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there 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 instead you have to pay their fees now the terrific aspect of however when you’ve converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests 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 costs so that’s actually great utilizing that part of their site won’t certainly restrict you in any way however we need to understand 2 other charges the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Bull.
You are offered many options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this may be exactly what you need.