Not actually having the full amount of capital…Michael Saylor Bitcoin Conference Youtube… so with anything that you’re learning more about please do study the platform do not simply assume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative also so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something because that person has actually stated they’ve made profit 14 months in a row buy these options because you think is the best ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding 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 alternative to see what other traders are doing incredible we do not normally 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 money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that implies if for instance 10 of their financial 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 truly crucial you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge sites then may not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you actually start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with charges truly important to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling all right so commission costs are free however there are a number of other fees the very first one is withdrawal costs so you can certainly 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 later on however when you want to withdraw your cash 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 certain that i’m just withdrawing when i definitely need to now you might say all right that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase 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 fee now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they actually providing 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 state give me us dollars rather you need to pay their fees now the fantastic 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 cash dollars for as long as you like so that means 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 additional fees so that’s actually excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we have to be aware of two other costs the first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Conference Youtube.
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