Not really having the full amount of capital…Michael Saylor Crypto News… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row buy these choices since you believe is the right ones for you which being stated 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 probably.
popular for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage 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 precise portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that means if for instance 10 of their investment portfolio remains 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 important you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee sites then may not charge you for actually buying and selling etfs or funds private 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 type of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges really important to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling okay so commission charges are complimentary however there are a couple of other charges 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 money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you offer 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 of course understanding that i’m going to ensure that i’m only withdrawing when i definitely need 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 have to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing but that is a charge to remember the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually offering 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 fees now the great aspect of though when you’ve transformed your money you do not have to invest it right now that dollar worth 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good using that part of their website won’t certainly restrict you in any way however we need to be aware of two other costs the very first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Crypto News.
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