Not really having the total of capital…Michael Saylor First Bitcoin… so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually 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 threat this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that individual has actually stated they’ve made revenue 14 months in a row buy these options since you believe is the ideal ones for you and that being stated 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.
well-known for it’s the choice to see what other traders are doing incredible we don’t generally 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 cash we can actually say i want to do precisely what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means if for instance 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 charges included actually crucial you comprehend 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 included and even some of the zero charge websites then might not charge you for actually buying and selling funds or etfs individual commodities specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 really start buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission fees are complimentary however there are a couple of other charges the first one is withdrawal charges so you can undoubtedly put cash 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 on but when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you may say all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those choices that they have a great deal of platforms certainly 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 entirely how you’re investing however that is a charge to remember the 2nd cost that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent 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 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind 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 providing 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 offer me us dollars instead you need to pay their charges now the great thing about however when you’ve transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform 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 excellent utilizing that part of their website won’t certainly restrict you in any way nevertheless we have to understand two other fees the first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to show you Michael Saylor First Bitcoin.
You are offered many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to select, then this might be precisely what you need.