Not in fact having the full amount of capital…Michael Saylor Bitcoin Energy Consumption… so with anything that you’re learning more about please do study the platform do not simply assume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you actually get utilized to the structure of the website 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 buying real business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that individual has actually said they have actually made revenue 14 months in a row purchase these choices because you believe is the best ones for you which being said 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 element that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for instance 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 charges included actually vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for really buying and selling etfs or funds private products private 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 costs 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 prior to you in fact start purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with fees truly crucial to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal costs so you can obviously put money 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 later on but when you want to withdraw your cash so you sell 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 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state all right that’s quite 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 costs are just one of 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 when every six months you know depends totally how you’re investing but that is a cost to remember the 2nd cost that i’ve discussed 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 fine that fits me.
a lot of my stocks are us dollar stocks anyway 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 utilize anybody so if you’re using trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they in fact 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 give me us dollars instead you have to pay their costs now the terrific aspect of however when you have actually transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great using that part of their website will not certainly limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Energy Consumption.
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