Not in fact having the full amount of capital…Michael Saylor Bitcoin Net Worth… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that individual has said they’ve made revenue 14 months in a row purchase these choices due to the fact that you believe is the best ones for you which being said let’s dive directly 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 most likely.
popular for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really say i want to do exactly what that trader is doing or match that exact 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 means 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 likewise cover is the charges included truly important you understand what are the expenses of this now with any platform there will be some cost to certainly 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 some of the no fee websites then may not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees actually essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling alright so commission fees are totally free nevertheless there are a number of other charges 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 money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those options that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you understand depends entirely how you’re investing however that is a charge to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two open market anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion fee 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 say offer me us dollars instead you have to pay their fees now the fantastic thing about though when you have actually transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests 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 truly excellent using that part of their website won’t certainly restrict you in any way nevertheless we have to be aware of two other fees the first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Net Worth.
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