Not really having the full amount of capital…Michael Saylor Bitcoin Digital Energy… so with anything that you’re learning more about please do study the platform don’t simply presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own cash 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 business if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row buy these choices due to the fact that you think is the best ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their 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 fees involved really crucial you understand what are the expenses of this now with any platform there will be some cost to obviously 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 no fee websites then may not charge you for really buying and selling etfs or funds private products specific 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 sort 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 understand before you really start investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with fees truly essential to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling all right so commission charges are totally free however there are a couple of other costs the very first one is withdrawal costs so you can certainly 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 however when you want to withdraw your money so you sell your shares you sell 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state fine 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 costs are just one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a charge to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only 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 purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually 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 state offer me us dollars rather you have to pay their costs now the great feature of though when you’ve converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their website won’t certainly limit you in any way however we need to know two other costs the very first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Michael Saylor Bitcoin Digital Energy.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not know which system to select, then this might be precisely what you need.