Not actually having the full amount of capital…Michael Saylor Btc News… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you actually get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something since that individual has actually said they’ve made earnings 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you and that being said let’s dive directly 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.
famous for it’s the choice to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do precisely what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for instance 10 of their financial 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 actually vital you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 a few of the absolutely no fee sites then might not charge you for really buying and selling funds or etfs specific 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 kinds of costs 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 know before you really start purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs actually essential to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling okay so commission fees are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can obviously 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 later but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those options 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 once every six months you understand depends completely how you’re investing but that is a cost to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits me.
a great deal 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 fee now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they really providing 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 state give me us dollars instead you need to pay their charges now the fantastic feature of though when you have actually transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or convert 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 excellent using that part of their website won’t certainly limit you in any way nevertheless we need to know 2 other fees the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor Btc News.
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