Not really having the full amount of capital…Michael Saylor Btc… so with anything that you’re discovering please do study the platform don’t just presume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you really get used to the structure of the website and then when you’re ready to use your own money 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 purchasing genuine business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you which 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 aspect that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be simulated 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 cash in so we’re going to likewise cover is the fees included truly critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine 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 cost websites then may not charge you for in fact buying and selling funds or etfs individual commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges 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 guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with costs truly important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission fees are totally free however there are a couple of other costs the first one is withdrawal fees so you can obviously put money in now if you remain 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 later but when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they actually offering 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 state offer me us dollars rather you have to pay their charges now the great thing about however when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really good utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to understand 2 other charges the very first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Michael Saylor Btc.
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