Not in fact having the total of capital…Michael Saylor Bitcoin Summit… so with anything that you’re discovering please do study the platform do not simply presume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they have actually made revenue 14 months in a row purchase these choices because you think is the best 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’s part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates 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 also cover is the fees included truly crucial you comprehend 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 a few of the no cost sites then might not charge you for really buying and selling funds or etfs specific products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 understand before you really start purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges truly important to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling okay so commission costs are complimentary however there are a couple of other charges the very first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms clearly 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 6 months you understand depends entirely how you’re investing but that is a cost to remember the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that suits me.
a great deal 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 fee now when you utilize anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they really giving you in terms of 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 say provide me us dollars instead you need to pay their fees now the terrific thing about though when you’ve converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really good utilizing that part of their website will not certainly limit you in any way nevertheless we have to understand 2 other fees the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Michael Saylor Bitcoin Summit.
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