Not actually having the full amount of capital…Michael Saylor Why Bitcoin… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course 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 discussing how to copy other people’s financial investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row buy these choices because you believe is the best ones for you and that being said let’s dive directly in [Music] The 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.
popular for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies 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 included actually vital you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost sites then might not charge you for actually buying and selling funds or etfs private commodities specific stocks.
there’ll be charges 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 show you the charges with in particular in this video the next would be things to understand prior to you in fact start investing in copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs really essential to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission costs are totally free however there are a number of other charges the first one is withdrawal charges so you can certainly put cash in now if you remain 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 in the future but when you want 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 of course understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state all right that’s quite expensive 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 just among those options that they have a lot of platforms undoubtedly are 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 once every 6 months you understand depends entirely how you’re investing but that is a charge to keep in mind the second fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying 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 2 and two open market anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they really 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 say offer me us dollars instead you have to pay their charges now the great feature of however when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their site won’t certainly restrict you in any way however we need to understand two other fees the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Why Bitcoin.
You are offered numerous options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not know which system to select, then this may be precisely what you require.