Not actually having the total of capital…Michael Saylor On Btc… so with anything that you’re learning about please do study the platform don’t just assume since 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 choice also so you in fact get used 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 obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not simply do something since that person has actually said they’ve made profit 14 months in a row invest in these options due to the fact that you think is the ideal 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 element that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable we don’t typically 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 in fact say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their 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 included truly important you understand what are the expenses 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 included and even some of the no charge sites then might not charge you for really buying and selling etfs or funds private products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 understand before you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with costs truly essential to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission charges are free nevertheless there are a number of other charges the very first one is withdrawal fees so you can undoubtedly put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you offer your shares you sell your products 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those options that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to keep in mind the second cost that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and say provide me us dollars rather you have to pay their fees now the great feature of though when you have actually converted your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 fees so that’s actually excellent utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand two other fees the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor On Btc.
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