Not actually having the full amount of capital…Michael Saylor Bitcoin Position… so with anything that you’re learning about please do study the platform do not simply presume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you actually get used 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 of course your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row purchase these choices because you believe is the ideal ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s 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 incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be imitated 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 cash in so we’re going to likewise cover is the costs involved truly vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee sites then might not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 know before you really begin purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges truly crucial to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling fine so commission charges are free however there are a number of other charges the first one is withdrawal costs so you can clearly put cash in now if you’re 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 in the future however when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re selling 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 sure that i’m just withdrawing when i absolutely require to now you may say fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those alternatives that they have a great deal of platforms clearly are 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 as soon as every 6 months you understand depends entirely how you’re investing however that is a cost to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 free trade 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 understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they really giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say offer me us dollars instead you have to pay their costs now the fantastic aspect of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent utilizing that part of their site won’t certainly limit you in any way however we have to understand 2 other costs the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Michael Saylor Bitcoin Position.
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