Not actually having the full amount of capital…Michael Saylor Bitcoin Mining… so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that option as well so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this particular video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually said they have actually made earnings 14 months in a row buy these options due to the fact that you believe is the ideal ones for you which being stated let’s dive straight 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 most likely.
popular for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for instance 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 charges included really crucial you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge sites then might not charge you for really buying and selling etfs or funds individual commodities individual 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 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 before you actually start purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with fees really important to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling okay so commission fees are free however there are a number of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you’re 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 later however when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly 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 as soon as every 6 months you know depends totally how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars just 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 excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they really providing you in terms of 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 say give me us dollars instead you have to pay their charges now the fantastic thing about though when you’ve transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great utilizing that part of their website will not definitely restrict you in any way nevertheless we need to understand 2 other charges the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread fee as i’m going to show you Michael Saylor Bitcoin Mining.
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