Not in fact having the total of capital…Michael Saylor Why Every Nomad Needs Bitcoin… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative also 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 obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has said they have actually made profit 14 months in a row buy these options because you believe is the ideal ones for you which being stated 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 most likely.
popular 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 suggests with our money we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for example 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 likewise cover is the costs involved actually important you comprehend what are the costs of this now with any platform there will be some expense to clearly 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 fee websites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 know before you really begin purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees really important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission costs are totally free however there are a number of other charges the very first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you sell your shares you sell your products whatever you’re offering 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 state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms obviously 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 completely how you’re investing but that is a charge to bear in mind the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually 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 say offer me us dollars instead you need to pay their charges now the terrific aspect of though when you’ve converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent using that part of their website won’t definitely limit you in any way however we need to be aware of two other charges the very first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread cost as i’m going to show you Michael Saylor Why Every Nomad Needs Bitcoin.
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