Not in fact having the total of capital…Michael Saylor Crypto… so with anything that you’re learning more about please do study the platform do not simply assume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you in fact 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 naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they have actually made revenue 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 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’s part of social trading which is one aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means 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 basically whenever they make a trade they buy they offer whatever they do your cash 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 money in so we’re going to also cover is the charges included really critical you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine business 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 zero fee websites then may not charge you for actually buying and selling etfs or funds individual commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 know before you actually begin purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees really essential to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission costs are free however there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s instantly 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 offering the minimum quantity 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 definitely require to now you might say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those alternatives that they have a lot of platforms undoubtedly are complimentary 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 once every six months you know depends entirely how you’re investing however that is a fee to keep in mind the second charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they actually offering 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 provide me us dollars rather you need to pay their fees now the terrific thing about though when you’ve converted 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 additional fees so that’s truly great utilizing that part of their site won’t certainly limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Michael Saylor Crypto.
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