Not actually having the total of capital…Michael Saylor Bitcoin Is Hope… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you really get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something since that person has actually said they’ve made earnings 14 months in a row buy these choices due to the fact that you think is the right ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your money will be mimicked 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 money in so we’re going to also cover is the charges included actually important you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee sites then may not charge you for really buying and selling funds or etfs specific products individual 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 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 before you really begin purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with costs really important to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling okay so commission fees are complimentary however there are a number of other costs the very first one is withdrawal fees so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you sell your products whatever you’re selling 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 make sure that i’m just withdrawing when i absolutely require to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those alternatives that they have a lot of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends entirely how you’re investing however that is a cost to bear in mind the second charge that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type 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 in fact giving 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 give me us dollars rather you have to pay their charges now the terrific feature of though when you’ve converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their website won’t definitely limit you in any way nevertheless we need to understand two other charges the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Michael Saylor Bitcoin Is Hope.
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