Not actually having the total of capital…Michael Saylor Bitcoin Accounting… so with anything that you’re learning about please do study the platform do not just presume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that choice too so you actually get used to the structure of the website and then 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 investing in genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually stated they’ve made revenue 14 months in a row invest in these options since you think is the ideal ones for you and that being stated 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 most likely.
famous for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for example 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 costs included truly vital you comprehend what are the costs 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 involved and even some of the no cost sites then may not charge you for really buying and selling etfs or funds private products private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with costs truly important to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling alright so commission costs are totally free however there are a number of other charges the very first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount 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 make sure that i’m only withdrawing when i absolutely need to now you may say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those choices 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 as soon as every six months you know depends completely how you’re investing however that is a charge to keep in mind the second fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you want to utilize 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 haggle with them you can’t go to the bank and say offer me us dollars rather you have to pay their costs now the fantastic aspect of though when you have actually transformed your cash 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 indicates the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their website will not certainly limit you in any way however we need to be aware of two other fees the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Accounting.
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