Not really having the total of capital…Michael Saylor Personal Bitcoin… so with anything that you’re discovering please do study the platform do not simply presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row buy these options due to the fact that you think 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 belongs to social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests 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 likewise cover is the charges involved actually critical you understand what are the costs of this now with any platform there will be some expense to certainly these are real 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 zero fee websites then might not charge you for in fact buying and selling funds or etfs specific commodities individual 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 sort 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 know before you really begin purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs really important to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling fine so commission fees are free however there are a number of other fees the very first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you sell your commodities 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 knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say 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 fees somewhere and withdrawal costs are simply one of those alternatives that they have a lot of platforms obviously are totally free 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 when every six months you understand depends totally how you’re investing however that is a charge to bear in mind the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that fits 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 good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually providing 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 offer me us dollars rather you have to pay their charges now the excellent thing about however when you’ve transformed your cash you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their website will not definitely limit you in any way however we have to be aware of 2 other charges the very first being what’s called spread charges alright and i’m going to show you what i mean on now a spread cost as i’m going to show you Michael Saylor Personal Bitcoin.
You are given lots of alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this might be exactly what you require.