Not really having the total of capital…Michael Saylor Twitter Bitfarm… so with anything that you’re discovering please do study the platform do not just assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you in fact get used to the structure of the website and after that when you’re ready to use 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 investing in genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something because that person has said they’ve made earnings 14 months in a row invest in these options due to the fact that you believe is the best ones for you which being said let’s dive straight in [Music] The 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 element that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your money will be imitated 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 fees involved really critical you understand what are the costs of this now with any platform there will be some cost to undoubtedly 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 some of the zero charge websites then might not charge you for really buying and selling etfs or funds private commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the fees 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 guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really essential to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling okay so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal costs so you can clearly put money in now if you remain 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 on however when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms undoubtedly 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 as soon as every 6 months you understand depends totally how you’re investing however that is a cost to keep in mind the second charge that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two open market anybody this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really offering you in regards to 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 instead you need to pay their charges now the fantastic thing about though when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase 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 truly excellent using that part of their website will not certainly limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Twitter Bitfarm.
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