Not really having the total of capital…Michael Saylor Bitcoin Amount… so with anything that you’re finding out about please do study the platform do not just assume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you actually get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row purchase these options because you believe is the best ones for you which 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 aspect that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for instance 10 of their 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 costs involved really critical you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly 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 no cost websites then might not charge you for actually buying and selling etfs or funds specific products individual stocks.
there’ll be fees on other parts perhaps 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 reveal you the fees with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with charges really essential to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling fine so commission charges are totally free nevertheless there are a couple of other costs the 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 automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you sell your commodities 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might state okay that’s quite pricey 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 among those options that they have a lot of platforms obviously are complimentary to do such things has this five 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 understand depends entirely how you’re investing but that is a charge to keep in mind the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and two open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say provide me us dollars instead you have to pay their costs now the fantastic aspect of however when you have actually transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great utilizing that part of their site will not definitely limit you in any way nevertheless we have to understand two other charges the first being what’s called spread fees alright 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 Amount.
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