Not in fact having the full amount of capital…Michael Saylor Bitcoin Target… so with anything that you’re learning about please do study the platform do not simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you in fact get utilized to the structure of the website and then when you’re ready to utilize 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 genuine companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row buy these choices due to the fact that you believe is the ideal ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t generally 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 money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for instance 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 likewise cover is the fees included truly important you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no cost sites then may not charge you for actually buying and selling funds or etfs private products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and finally some best advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with costs truly essential to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling okay so commission fees are free however there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell 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 five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you may say all right that’s rather pricey 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 options that they have a great deal of platforms obviously are totally free 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 6 months you know depends completely how you’re investing however that is a fee to remember the 2nd fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there 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 state give me us dollars rather you have to pay their costs now the excellent thing about though when you have actually converted your cash you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their website will not definitely limit you in any way however we need to know 2 other costs the first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Target.
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