Not actually having the total of capital…Michael J. Saylor Bitcoin Holding… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own cash 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 select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they’ve made profit 14 months in a row buy these choices due to the fact that you think is the ideal ones for you and that being said let’s dive straight in [Music] 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 element that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included actually critical you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 a few of the no fee sites then may not charge you for actually buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to understand before you actually begin investing in copy trading or copy portfolios and lastly some finest advice finest 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 costs really important to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling all right so commission costs are free nevertheless there are a number of other charges the 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 later however when you want to withdraw your money so you offer 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 make certain that i’m just withdrawing when i definitely need to now you may say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those alternatives that they have a lot of platforms obviously are totally 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 six months you know depends completely how you’re investing however that is a cost to remember the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they in fact giving 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 say provide me us dollars instead you have to pay their fees now the great thing about though when you’ve transformed your money 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 really good utilizing that part of their site will not definitely restrict you in any way nevertheless we need to understand two other fees the very first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael J. Saylor Bitcoin Holding.
You are offered many alternatives 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 pick, then this might be precisely what you require.