Not really having the full amount of capital…Michael Saylor Bitcoin For Corporations… so with anything that you’re learning about please do study the platform don’t simply assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you really get utilized 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 obviously your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something because that person has actually said they’ve made profit 14 months in a row purchase these choices since you think is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for instance 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 also cover is the costs involved really critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real 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 absolutely no charge websites then may not charge you for really buying and selling funds or etfs private commodities specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 prior to you in fact begin buying 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 investor so let’s begin with costs actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put money in now if you remain 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 offer your shares you offer your products whatever you’re offering the minimum amount 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 certain that i’m only withdrawing when i definitely require to now you might state fine 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 fees are simply among 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 6 months you understand depends entirely how you’re investing however that is a fee to remember the second fee that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s fine that matches 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 cost now when you utilize anyone so if you’re using trading two and two open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really giving 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 rather you need to pay their charges now the excellent thing about though when you have actually converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really great utilizing that part of their website won’t definitely restrict you in any way however we need to be aware of 2 other costs the very first being what’s called spread costs alright and i’m going to show you what i suggest on now a spread cost as i’m going to show you Michael Saylor Bitcoin For Corporations.
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