Not really having the total of capital…Michael Saylor On Bitcoin Energy Consumption… so with anything that you’re learning about please do study the platform don’t just assume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you really 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 danger this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually stated they have actually made profit 14 months in a row purchase these options due to the fact that you think is the right ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
well-known for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be simulated 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 money in so we’re going to also cover is the fees involved truly vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then might not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with really buying and selling alright so commission charges are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can obviously put cash in now if you’re 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 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 five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just one of those alternatives that they have a lot of platforms certainly 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 when every six months you know depends totally how you’re investing but that is a fee to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact offering 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 rather you have to pay their costs now the terrific feature of however when you’ve converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great utilizing that part of their site won’t certainly limit you in any way nevertheless we have to understand 2 other charges the very first being what’s called spread costs all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Michael Saylor On Bitcoin Energy Consumption.
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