Not actually having the total of capital…Michael Saylor Bitcoin Video… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row buy these choices because you think is the right 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests if for example 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 costs involved really 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 fee sites then may not charge you for in fact buying and selling funds or etfs specific commodities 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 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 actually begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually important to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling alright so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you offer your shares you offer your products 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may state all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those options that they have a great deal of platforms undoubtedly are 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 as soon as every six months you know depends totally how you’re investing however that is a cost to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great 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 anybody so if you’re using trading two and two free trade anybody this is standard they have actually i expect stuck with 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 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 provide me us dollars instead you need to pay their costs now the excellent feature of however when you’ve transformed your cash 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 indicates the preliminary day that you buy or transform your dollars is the only charge that takes place 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 definitely restrict you in any way however we need to know two other fees the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Video.
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