Not actually having the total of capital…Michael Saylor Bitcoin Ownership… so with anything that you’re discovering please do study the platform don’t simply assume since 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 cash they consider that option too so you really get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat 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 people’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually stated they’ve made revenue 14 months in a row purchase these choices since you think is the best ones for you which being stated 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates 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 charges included actually important you understand what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for in fact buying and selling etfs or funds individual products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 prior to you actually start buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs really essential to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission charges are totally free however there are a couple of other fees the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
and it’s immediately 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 offer your products 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 obviously knowing 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 pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those choices that they have a great deal of platforms clearly 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 when every 6 months you know depends entirely how you’re investing however that is a cost to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and say give me us dollars instead you need to pay their charges now the terrific feature of though when you’ve converted your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site won’t definitely restrict you in any way however we need to be aware of two other fees the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Michael Saylor Bitcoin Ownership.
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