Not really having the full amount of capital…Michael Saylor On Bitcoin… so with anything that you’re finding out about please do study the platform don’t simply presume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get utilized to the structure of the website and after that when you’re ready to utilize 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 real companies if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you and that being stated 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 most likely.
popular for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates if for example 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 also cover is the charges included really vital you understand what are the costs of this now with any platform there will be some cost to clearly 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 no charge sites then might not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with fees truly essential to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling okay so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms clearly are totally free 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 understand depends totally how you’re investing but that is a charge to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s fine that matches 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 fee now when you utilize anybody so if you’re using trading two and two free trade anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually providing 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 rather you need to pay their costs now the terrific aspect of though when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their website won’t certainly limit you in any way however we have to be aware of 2 other fees the first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread fee as i’m going to show you Michael Saylor On Bitcoin.
You are provided lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to select, then this might be exactly what you need.