Not in fact having the full amount of capital…Tony Robbins Michael Saylor Bitcoin… so with anything that you’re discovering please do study the platform do not just presume because i utilize 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 too so you in fact 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 naturally your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re discussing how to copy other individuals’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 individual has said they’ve made profit 14 months in a row invest in these choices because you think is the best ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending 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 choice to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved actually crucial you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real 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 no cost websites then may not charge you for actually buying and selling funds or etfs individual products 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 charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs truly essential to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling alright so commission fees are totally free however there are a couple of other costs the very first one is withdrawal costs so you can certainly put money in now if you remain 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 wish 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 5 dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those options that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing however that is a cost to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and 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 using trading two and 2 open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact giving you in regards to 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 provide me us dollars rather you have to pay their costs now the fantastic feature of though when you have actually converted your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase 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 really good utilizing that part of their website won’t definitely limit you in any way however we need to be aware of two other costs the first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Tony Robbins Michael Saylor Bitcoin.
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