Not in fact having the total of capital…Michael Saylor Bitcoin Podcast… so with anything that you’re learning more about please do study the platform don’t simply assume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you really get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that person has said they have actually made earnings 14 months in a row purchase these options due to the fact that you believe 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 becomes part of social trading which is one aspect that is probably.
well-known for it’s the alternative to see what other traders are doing amazing we do not usually 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 state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for instance 10 of their 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 included actually crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee sites then might not charge you for in fact buying and selling etfs or funds private 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 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 before you really begin purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with fees actually crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission charges are totally free however there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put cash 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 in the future but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling 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 ensure that i’m only withdrawing when i absolutely need to now you might say all right that’s quite expensive and i get that however 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 undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you understand depends totally how you’re investing but that is a fee to bear in mind the second charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and 2 open market anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize 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 offer me us dollars instead you have to pay their charges now the fantastic aspect of though when you have actually converted your cash you do not need to invest it immediately that dollar value 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great utilizing that part of their site will not certainly limit you in any way nevertheless we need to know 2 other charges the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to show you Michael Saylor Bitcoin Podcast.
You are offered lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to pick, then this might be exactly what you require.