Not actually having the full amount of capital…Michael Saylor Why Every Nomad Needs Bitcoin… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that option too so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that individual has stated they have actually made profit 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you which 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 probably.
well-known for it’s the option to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies 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 involved really vital you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be costs on other parts perhaps 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 prior to you in fact begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with costs actually important to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission fees are complimentary however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you offer 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 make sure that i’m only withdrawing when i definitely need to now you might state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those options that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a cost to remember the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they in fact giving 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 provide me us dollars rather you have to pay their fees now the great aspect of though when you have actually converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their site won’t definitely limit you in any way nevertheless we need to know two other fees the very first being what’s called spread charges alright and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Why Every Nomad Needs Bitcoin.
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