Not really having the full amount of capital…Michael Saylor Bitcoin Tweet… so with anything that you’re finding out about please do study the platform don’t just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative also so you in fact get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing 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 have to bear that in mind do not just do something because that individual has said they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the right ones for you which being said let’s dive straight 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 option to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and basically every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for example 10 of their financial 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 fees involved really important you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for really buying and selling funds or etfs private commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges actually important to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission fees are free however there are a couple of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering 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 make sure that i’m only withdrawing when i definitely require to now you may state okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those choices that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends totally how you’re investing but that is a cost to bear in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’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 excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they actually 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 give me us dollars rather you need to pay their costs now the excellent aspect of though when you have actually converted your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their site will not certainly restrict you in any way however we have to understand two other fees the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Tweet.
You are offered numerous 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 choose, then this might be exactly what you require.