Not really having the full amount of capital…Michael Saylor Bitcoin Podcast… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i use it that you can use it right now 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 utilized to the structure of the site and then when you’re ready to use 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 business if you select to in this particular video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at threat and we have to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row buy these options since you think is the ideal ones for you and that being said 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 aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not usually 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 specific portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests if for example 10 of their financial investment portfolio is 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 truly crucial you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing 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 in fact buying and selling etfs or funds specific products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and lastly some finest advice 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 essential to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling okay so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you sell 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 understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just one of 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 mostly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a cost to keep in mind the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they really 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 have to pay their charges now the great aspect of though when you have actually transformed your money you do not have to invest it immediately 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 buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their website will not certainly restrict you in any way nevertheless we have to be aware of 2 other costs the very first being what’s called spread charges all right 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 Podcast.
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