Not actually having the total of capital…Michael Saylor Bitcoin Course… so with anything that you’re finding out about please do study the platform do not simply presume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you really get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something since that individual has stated they’ve made revenue 14 months in a row invest in these choices because you think is the best 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 becomes part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means 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 likewise cover is the charges involved truly crucial you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies 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 absolutely no charge websites then may not charge you for in fact buying and selling etfs or funds specific commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 understand before you in fact start investing in copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with charges actually important to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling fine so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer 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 definitely need to now you might say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those choices that they have a great deal of platforms obviously are free 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 once every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the second cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they really offering you in regards to 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 provide me us dollars rather you need to pay their fees now the terrific feature of however when you have actually transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means 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 truly great utilizing that part of their site will not definitely restrict you in any way however we need to know 2 other fees the very first being what’s called spread fees all right 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 Course.
You are given many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to pick, then this might be precisely what you need.