Not actually having the total of capital…Michael Saylor Personal Bitcoin… so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you in fact get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually said they have actually made profit 14 months in a row purchase these choices because 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
well-known for it’s the alternative to see what other traders are doing amazing 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 suggests with our cash we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included actually critical you understand what are the costs of this now with any platform there will be some cost to obviously 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 a few of the absolutely no charge sites then might not charge you for really buying and selling funds or etfs individual products specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing 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 costs with in particular in this video the next would be things to understand before you actually begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with costs really important to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling okay so commission costs are totally free however there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you offer your shares you offer your commodities 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say okay that’s quite pricey 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 choices that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing but that is a charge to bear in mind the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee 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 give me us dollars rather you need to pay their charges now the fantastic feature of though when you have actually converted your cash you do not have to invest it immediately that dollar value 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 occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good using that part of their website will not definitely limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Michael Saylor Personal Bitcoin.
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