Not in fact having the total of capital…Michael J. Saylor Bitcoin… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i use 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 really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they have actually made revenue 14 months in a row buy these choices because you think is the right ones for you which being stated let’s dive straight 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that means if for example 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 costs involved actually critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies 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 charge websites then may not charge you for actually buying and selling funds or etfs private commodities individual 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 kinds 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 understand before you actually begin buying copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with costs actually crucial to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling alright so commission costs are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can certainly 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 however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those choices that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends totally how you’re investing however that is a cost to bear in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s fine that matches me.
a great deal 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 utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion fee 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 bargain with them you can’t go to the bank and state provide me us dollars instead you have to pay their charges now the fantastic feature of though when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert 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 great utilizing that part of their website will not definitely limit you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Michael J. Saylor Bitcoin.
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