Not in fact having the total of capital…Michael Saylor On Bitcoin Drop… so with anything that you’re learning about please do study the platform don’t just assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you in fact 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 naturally your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row buy these options because you think is the right ones for you and that being said let’s dive straight in [Music] so the important 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 don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests if for instance 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 charges involved actually important you understand what are the costs 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 absolutely no charge websites then may not charge you for really buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees 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 reveal you the costs with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs actually essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission charges are complimentary nevertheless there are a number of other charges the first one is withdrawal fees 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 cash so you sell 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely 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 somewhere and withdrawal costs are just among those options that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing however that is a charge to remember the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and 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 2 and two free trade anybody this is standard they have actually i suppose stuck with whatever cost 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 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 money you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial 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 fees so that’s really excellent utilizing that part of their site will not certainly restrict you in any way however we have to know two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Michael Saylor On Bitcoin Drop.
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