Not in fact having the full amount of capital…Michael Saylor Bitcoin Energy… so with anything that you’re learning more about please do study the platform don’t just assume because 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 consider that choice too so you actually get used to the structure of the site and after that when you’re ready to use your own money 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 select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something since that individual has said they’ve made earnings 14 months in a row buy these options because you think is the best 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 probably.
famous for it’s the option to see what other traders are doing amazing we do not typically 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 money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests if for instance 10 of their 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 fees involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost sites then may not charge you for really buying and selling funds or etfs specific commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 prior to you really begin buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with costs truly crucial to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling okay so commission fees are free nevertheless there are a number of other costs the very first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 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 all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those options that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they actually 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 state provide me us dollars instead you have to pay their charges now the excellent thing about however when you’ve converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests 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 charges so that’s really good utilizing that part of their website won’t definitely limit you in any way however we have to understand two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Energy.
You are offered numerous choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to choose, then this may be exactly what you need.