Not actually having the full amount of capital…Michael Saylor Bitcoin Digital Energy… so with anything that you’re finding out about please do study the platform don’t just assume because i utilize 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 choice too so you in fact 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 naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row invest in these options because you believe 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved really important you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real business 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 zero charge websites then may not charge you for in fact buying and selling etfs or funds private products private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with fees actually crucial to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission fees are free however there are a couple 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 cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just one of those options that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends totally how you’re investing however that is a fee to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they in fact providing 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 say provide me us dollars instead you have to pay their charges now the terrific feature of though when you have actually converted your money 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 indicates the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their website will not certainly restrict you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor Bitcoin Digital Energy.
You are given numerous choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however do not understand which system to pick, then this may be precisely what you need.