Not in fact having the total of capital…Michael Saylor Grayscale… so with anything that you’re finding out about please do study the platform do not just presume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re talking about how to copy other people’s financial 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 have actually made earnings 14 months in a row purchase these options due to the fact that you think is the ideal ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 10 of their financial investment portfolio is 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 truly critical you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine 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 no fee websites then may not charge you for in fact buying and selling funds or etfs specific products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you actually 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 investor so let’s kick off with fees truly important to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission charges are totally free however there are a number of other charges the very first one is withdrawal charges 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 in the future however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum quantity 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 sure that i’m only withdrawing when i definitely need to now you might state okay that’s rather 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 choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends completely how you’re investing however that is a cost to bear in mind the 2nd cost that i’ve 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 lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they in fact offering 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 state give me us dollars instead you need to pay their charges now the excellent thing about though when you have actually converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we need to understand two other charges the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Michael Saylor Grayscale.
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