Not actually having the total of capital…Michael Saylor Bitcoin Wsj… so with anything that you’re learning more about please do study the platform don’t simply presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you really 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 obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something because that person has stated they’ve made earnings 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular 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 indicates with our money we can really say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your money will be imitated 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 costs involved truly important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for really buying and selling etfs or funds specific commodities private 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 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 prior to you actually begin buying copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees actually important to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission charges are complimentary nevertheless there are a couple of other costs the first one is withdrawal charges so you can certainly put money in now if you remain 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 wish to withdraw your money so you offer your shares you offer your products 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 certain that i’m only withdrawing when i definitely need to now you might say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a great deal 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 anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee 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 state offer me us dollars instead you have to pay their charges now the terrific thing about though when you’ve converted your cash you do not have to invest it right away that dollar value can sit 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their site will not certainly restrict you in any way nevertheless we need to know 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Wsj.
You are given many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this might be precisely what you need.