Not in fact having the total of capital…Michael Saylor Bitcoin School… so with anything that you’re learning about please do study the platform do not just presume because i use 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 consider that alternative also so you actually get utilized 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 obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually said they’ve made earnings 14 months in a row purchase these choices due to the fact that you believe is the best ones for you and that being said 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included actually crucial you understand what are the costs of this now with any platform there will be some cost to clearly 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 no charge websites then might not charge you for in fact buying and selling funds or etfs individual commodities individual 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 type of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you actually begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs truly crucial to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling fine so commission costs are free nevertheless there are a number of other fees the first one is withdrawal costs so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you sell your commodities 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 understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those options that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know depends completely how you’re investing however that is a charge to remember the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that suits 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 good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they really offering you in terms of 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 give me us dollars instead you have to pay their charges now the excellent thing about however when you have actually transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great using that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other charges the first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin School.
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