Not actually having the total of capital…Michael Saylor Bitcoin Crash… so with anything that you’re finding out about please do study the platform don’t just assume since i use it that you can use it right away 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 after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row invest in these choices because you think is the ideal ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
popular for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 10 of their 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 costs involved actually critical you understand what are the costs of this now with any platform there will be some expense to obviously these are real companies 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 cost sites then might not charge you for in fact buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts maybe 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 show you the costs 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 finally some best recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges really essential to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling all right so commission fees are totally free nevertheless there are a couple of other charges the first one is withdrawal costs so you can clearly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a charge to bear in mind the second charge that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and 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 using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion charge 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 haggle with them you can’t go to the bank and state give me us dollars rather you need to pay their charges now the great aspect of though when you have actually converted your cash you do not need to invest it right now that dollar worth 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 occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great using that part of their site will not definitely limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Crash.
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