Not really having the total of capital…Michael Saylor Bitcoin Mortgage… so with anything that you’re discovering please do study the platform do not simply presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you in fact get utilized to the structure of the site 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 buying genuine business if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something because that person has stated they have actually made profit 14 months in a row invest in these options due to the fact that you think is the ideal ones for you and that being stated 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 probably.
famous for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included truly crucial you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 some of the absolutely no fee sites then may not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly crucial to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling okay so commission costs are totally free however there are a couple 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 cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you offer your commodities 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say alright that’s quite pricey 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 undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing however that is a charge to keep in mind the second fee that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they in fact offering you in regards to 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 need to pay their costs now the great aspect of though when you’ve transformed your cash you do not need to invest it right away 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good using that part of their site won’t certainly limit you in any way nevertheless we have to know two other fees the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to show you Michael Saylor Bitcoin Mortgage.
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