Not actually having the full amount of capital…Michael Saylor Sold Bitcoin… so with anything that you’re learning more about please do study the platform don’t simply 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 money they give that alternative also so you actually get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the best 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 becomes part of social trading which is one aspect that is probably.
famous for it’s the option 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 really state i want to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates 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 also cover is the costs involved truly vital 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 purchasing the selling for you there’s going to be charges involved and even a few of the zero cost sites then may not charge you for actually buying and selling funds or etfs individual commodities specific stocks.
there’ll be charges on other parts maybe 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 costs with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees really crucial to comprehend these now on there’s a couple of charges there isn’t costs to do with really buying and selling all right so commission costs are complimentary however there are a number of other charges the very first one is withdrawal fees so you can obviously put money 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 on however when you want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those options that they have a great deal of platforms obviously are complimentary 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 six months you understand depends totally how you’re investing however that is a charge to keep in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine 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 excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge exists 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 say offer me us dollars instead 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 sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their site will not certainly restrict you in any way however we have to know two other fees the first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Sold Bitcoin.
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