Not in fact having the full amount of capital…Michael Saylor Bitcoin Conference Date… so with anything that you’re learning more about please do study the platform do not just presume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you in fact get used to the structure of the site 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 buying genuine business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that person has actually stated they’ve made profit 14 months in a row invest in these choices because you think is the right ones for you and that being said let’s dive directly in [Music] 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 most likely.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved really critical you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine 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 websites then might not charge you for in fact buying and selling etfs or funds specific products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 know prior to you in fact begin investing in copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with costs actually important to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling all right so commission costs are totally free however there are a number of other costs the very first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically 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 offer your products whatever you’re offering the minimum amount 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 ensure that i’m only withdrawing when i absolutely require to now you might say all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends completely how you’re investing however that is a fee to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that matches 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 good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they in fact giving 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 say offer me us dollars rather you have to pay their fees now the terrific thing about however when you have actually transformed your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 additional charges so that’s actually good using that part of their website will not certainly limit you in any way nevertheless we have to know two other charges the very first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Conference Date.
You are provided lots of options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to pick, then this may be precisely what you require.