Not actually having the full amount of capital…Michael Saylor On Cardano… so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i utilize it that you can use it immediately 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 obviously your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that person has said they have actually made profit 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] so the important 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 most likely.
famous for it’s the choice to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved truly vital 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 buying the selling for you there’s going to be charges included and even a few of the zero cost sites then may not charge you for actually buying and selling funds or etfs specific 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 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 know prior to you in fact begin investing in copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees really important to understand these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling okay so commission charges are totally free however there are a number of other costs the first one is withdrawal charges so you can certainly put money in now if you remain 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 but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state 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 someplace and withdrawal fees are just among those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a fee to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing 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 2 and two free trade anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists 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 haggle with them you can’t go to the bank and state provide me us dollars instead you have to pay their charges now the terrific feature of though when you’ve converted your money you do not have to invest it right away that dollar value can being in your portfolio as money 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 charges so that’s actually good utilizing that part of their site won’t certainly restrict you in any way however we need to be aware of 2 other costs the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor On Cardano.
You are given lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to select, then this might be exactly what you need.