Not in fact having the full amount of capital…Michael Saylor Bitcoin Collateral… so with anything that you’re learning about please do study the platform do not just assume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you in fact get used to the structure of the site and then when you’re ready to use your own cash 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 genuine companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has said they have actually made earnings 14 months in a row purchase these options because you believe is the right 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the alternative to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved really vital you understand 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 involved and even some of the no charge sites then may not charge you for in fact buying and selling etfs or funds specific products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees truly essential to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission charges are free however there are a number of other costs the first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money 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 understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those choices that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing however that is a cost to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent 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 free trade anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing 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 offer me us dollars instead you have to pay their charges now the terrific thing about however when you’ve transformed your cash 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 purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent using that part of their site won’t definitely restrict you in any way however we have to know two other charges the first being what’s called spread charges all right and i’m going to show you what i imply on now a spread charge as i’m going to show you Michael Saylor Bitcoin Collateral.
You are offered lots of choices with this software application 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 may be exactly what you need.