Not actually having the full amount of capital…Michael Saylor Bitcoin Twitter… so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you in fact get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something because that person has said they have actually made earnings 14 months in a row purchase these choices since you think is the best ones for you and that 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 element that is probably.
famous for it’s the choice to see what other traders are doing unbelievable 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 really state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 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 charges included really vital you comprehend what are the expenses of this now with any platform there will be some cost to clearly 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 some of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs individual commodities specific 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 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 prior to you in fact start purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with fees actually crucial to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a couple of other charges 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 immediately 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 offer your shares you sell your products 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 understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a charge to remember the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyway 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 use anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they actually giving you in regards to 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 costs now the great aspect of however when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually great using that part of their site won’t definitely limit you in any way however we need to know two other charges the very first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Twitter.
You are offered numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to select, then this may be exactly what you require.