Not really having the total of capital…Michael Saylor Future Of Bitcoin… so with anything that you’re learning about please do study the platform do not just assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you actually get utilized 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 naturally your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row buy these options since you think is the ideal ones for you which 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 becomes part of social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies 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 fees involved really vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business 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 no cost sites then might not charge you for actually buying and selling funds or etfs private products private 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 sort 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 understand prior to you in fact begin purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly crucial to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission charges are complimentary however there are a number of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s instantly 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 sell 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 of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing but that is a fee to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they actually giving you in terms of 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 say offer me us dollars instead you have to pay their fees now the great feature of however when you’ve converted your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent using that part of their website will not certainly restrict you in any way nevertheless we have to know two other charges the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Future Of Bitcoin.
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