Not in fact having the total of capital…Michael J. Saylor Bitcoin Holding… so with anything that you’re discovering please do study the platform do not simply assume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get used to the structure of the website and then when you’re ready to use 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 genuine business if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row invest in these choices since you think is the right ones for you which being stated let’s dive directly in [Music] so 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 aspect that is most likely.
famous for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really say i want to do precisely what that trader is doing or match that exact portfolio of choices and generally 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 also cover is the fees included really important you understand what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for really buying and selling funds or etfs specific products private 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 reveal you the charges with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges actually crucial 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 charges are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put money 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 later on however when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those choices that they have a great deal of platforms undoubtedly are complimentary 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 once every 6 months you know depends totally how you’re investing however that is a charge to bear in mind the second charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really 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 give me us dollars rather you have to pay their costs now the fantastic thing about though when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent using that part of their site will not certainly restrict you in any way nevertheless we have to understand 2 other costs the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael J. Saylor Bitcoin Holding.
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