Not really having the full amount of capital…Michael Saylor Bitcoin Own… so with anything that you’re learning more about please do study the platform do not just presume since 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 consider 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 cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually said they’ve made profit 14 months in a row buy these choices because you think 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.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for example 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 likewise cover is the fees included really important you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge sites then may not charge you for actually buying and selling funds or etfs specific 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 type of fees 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 in fact start investing in copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with charges actually essential to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those options that they have a great deal of platforms undoubtedly are totally free 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 entirely how you’re investing however 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 only 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they in fact giving you in terms of 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 provide me us dollars instead you need to pay their fees now the excellent feature of however when you’ve converted your money you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that means 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 costs so that’s actually good using that part of their site won’t definitely restrict you in any way nevertheless we need to know two other fees the very first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Own.
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