Not really having the total of capital…Michael Saylor Bitcoin… so with anything that you’re learning more about please do study the platform don’t just assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative also so you really get used to the structure of the website and after that when you’re ready to use your own cash 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 real business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually said they have actually made revenue 14 months in a row buy these options due to the fact that you believe is the best ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can actually say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for example 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 also cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge 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 possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 prior to you in fact begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with charges actually essential to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal charges so you can obviously put cash in now if you’re 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 but when you wish to withdraw your cash so you offer 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just among those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing but that is a charge to remember the 2nd fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy 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 purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 free trade anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually providing 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 state offer me us dollars rather you need to pay their fees now the great feature of however when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their website will not certainly restrict you in any way however we need to know two other fees the very first being what’s called spread charges alright and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin.
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