Not actually having the total of capital…Michael Saylor Bitcoin Latest… so with anything that you’re learning more about please do study the platform don’t just 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 choice also so you actually 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 threat this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re discussing how to copy other people’s 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 individual has actually stated they’ve made earnings 14 months in a row purchase these choices because you think is the right ones for you which being stated let’s dive directly in [Music] so the important 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 aspect that is probably.
well-known for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included actually critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 really start investing in copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees truly essential to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling all right so commission charges are complimentary nevertheless there are a number of other charges the first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
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 cash so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those choices that they have a lot of platforms certainly are totally 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 as soon as every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have 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 cost exists what are they really offering 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 give me us dollars rather you need to pay their fees now the great thing about however when you have actually converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their website will not definitely restrict you in any way nevertheless we need to be aware of 2 other fees the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Latest.
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