Not really having the full amount of capital…Michael Saylor Bitcoin Portfolio… so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you in fact get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something because that person has actually said they have actually made earnings 14 months in a row invest in these choices because you think is the best ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
popular for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved actually critical you understand what are the expenses of this now with any platform there will be some expense to clearly 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 a few of the no cost websites then might not charge you for in fact buying and selling etfs or funds specific products individual stocks.
there’ll be fees on other parts possibly 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 fees with in particular in this video the next would be things to understand prior to you actually begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with charges really important to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling all right so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can clearly put cash in now if you’re 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 but when you wish to withdraw your cash so you offer your shares you offer your commodities 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 of course understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those choices that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing but that is a fee to keep in mind the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two open market anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 provide me us dollars rather you need to pay their costs now the fantastic feature of however when you have actually transformed your money you do not have to invest it immediately 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 purchase or transform 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 site will not certainly limit you in any way nevertheless we need to be aware of 2 other charges the very first being what’s called spread fees alright and i’m going to show you what i imply on now a spread cost as i’m going to show you Michael Saylor Bitcoin Portfolio.
You are given lots of options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this might be precisely what you require.