Not really having the total of capital…Michael Saylor Bitcoin Raoul Pal… so with anything that you’re discovering please do study the platform don’t just assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you really 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 danger this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something because that person has stated they have actually made earnings 14 months in a row buy these options since you believe is the right ones for you which being said let’s dive directly 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 most likely.
well-known for it’s the option to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies 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 charges included actually vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee sites then may not charge you for actually 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 charges 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 know prior to you really start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with costs really crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission fees are complimentary nevertheless there are a couple of other costs the very first one is withdrawal charges so you can obviously put cash in now if you’re 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 but when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those options 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 mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing however that is a cost to remember the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they in fact offering you in regards to 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 offer me us dollars instead you have to pay their costs now the fantastic thing about though when you’ve transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great utilizing that part of their website will not definitely limit you in any way however we need to understand two other costs the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor Bitcoin Raoul Pal.
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