Not really having the total of capital…Michael Saylor And Bitcoin… so with anything that you’re learning about please do study the platform do not just presume due to the fact that i utilize 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 too so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re speaking about how to copy other people’s investments with your money 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 think is the best ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding 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 choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your money will be simulated 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 cash in so we’re going to likewise cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee websites then may not charge you for actually buying and selling funds or etfs specific commodities private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 really start purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees really important to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission charges are free however there are a couple of other fees the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you offer your shares you offer your commodities 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 of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state all right that’s rather costly 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 options that they have a lot of platforms clearly are totally 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 as soon as every six months you know depends totally how you’re investing however that is a cost to keep in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying 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 utilizing trading 2 and 2 open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they really giving 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 state offer me us dollars instead you have to pay their fees now the great thing about though when you’ve transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial 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 great utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand two other charges the very first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor And Bitcoin.
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