Not in fact having the full amount of capital…Michael Saylor Bitcoin Course… so with anything that you’re finding out about please do study the platform do not simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option too so you in fact get utilized to the structure of the site and then when you’re ready to use 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 genuine business if you choose to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something because that individual has actually said they’ve made revenue 14 months in a row buy these options because you think is the right ones for you and that being said let’s dive directly 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 most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 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 fees involved really important you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost websites then might not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 before you really begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with costs actually essential to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling fine so commission costs are totally free however there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly 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 wish to withdraw your money 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 5 dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those alternatives that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends completely how you’re investing however that is a fee to keep in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice 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 or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost 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 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 terrific feature of however when you’ve transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their site will not certainly restrict you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Michael Saylor Bitcoin Course.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this might be precisely what you need.