Not really having the full amount of capital…Michael Saylor On Bitcoin Youtube… so with anything that you’re discovering please do study the platform do not simply presume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that option also so you really get utilized to the structure of the website and after that when you’re ready to utilize 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 investing in real companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something because that person has said they’ve made profit 14 months in a row invest in these choices due to the fact that 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 probably.
well-known for it’s the option to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests 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 also cover is the charges involved really important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real business 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 charge websites then might not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be fees on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to understand prior to you in fact begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs actually crucial to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling okay so commission fees are free however there are a couple of other costs the first one is withdrawal charges so you can clearly put money 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 on however when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of those alternatives that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six 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 cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing 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 two free trade anybody this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually 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 rather you have to pay their costs now the great thing about however when you’ve transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good utilizing that part of their site won’t certainly limit you in any way however we have to know 2 other costs the first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Michael Saylor On Bitcoin Youtube.
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