Not really having the full amount of capital…Michael Saylor Bitcoin Target… so with anything that you’re learning about please do study the platform do not simply assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you really get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row buy these choices due to the fact that you believe is the best ones for you which 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 aspect that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests if for example 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 fees involved actually important you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real business 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 no cost sites then might not charge you for actually buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with costs really crucial to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling fine so commission costs are totally free however there are a couple of other fees the very first one is withdrawal fees so you can clearly put money in now if you’re 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 in the future however when you wish to withdraw your money so you offer your shares you sell your commodities 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 understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those choices that they have a lot of platforms undoubtedly are complimentary 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 when every six months you understand depends completely how you’re investing however that is a cost to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s fine that suits 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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two free trade anybody this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really providing 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 state offer me us dollars rather you need to pay their charges now the great feature of though when you have actually 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 indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent using that part of their website won’t definitely restrict you in any way however we need to understand 2 other fees the first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Target.
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