Not really having the total of capital…Michael Saylor Bitcoin Standard Podcast… so with anything that you’re discovering 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 alternative as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they’ve made profit 14 months in a row invest in these choices because you believe is the right ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding 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 option to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really critical you understand 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 a few of the zero fee websites then might not charge you for really buying and selling funds or etfs specific products specific stocks.
there’ll be charges 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 fees with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges actually crucial to understand these now on there’s a couple of charges there isn’t charges to do with really buying and selling fine so commission fees are free however there are a number of other charges the first one is withdrawal fees so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell 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 make sure that i’m just withdrawing when i definitely need to now you might say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends entirely how you’re investing however that is a fee to keep in mind the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits 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 good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i expect stuck with 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 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 instead you have to pay their charges now the great thing about though when you’ve transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy 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 truly great utilizing that part of their website will not certainly restrict you in any way nevertheless we need to know 2 other fees the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Michael Saylor Bitcoin Standard Podcast.
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