Not really having the total of capital…Michael Saylor Bitcoin Tracker… so with anything that you’re learning about please do study the platform do not just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you actually get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually stated they’ve made profit 14 months in a row purchase these options because you believe is the ideal ones for you and that being said let’s dive straight in [Music] so 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 most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do precisely what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests if for example 10 of their financial investment portfolio remains 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 truly vital you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine 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 absolutely no cost sites then may not charge you for really buying and selling etfs or funds individual commodities individual 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 kinds 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 know prior to you really start purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with costs really essential to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission charges are totally free however there are a couple of other charges the first one is withdrawal charges so you can clearly put cash 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 want 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 ensure that i’m only withdrawing when i absolutely need to now you might state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those alternatives that they have a lot of platforms certainly are complimentary 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 once every six months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that fits me.
a great deal 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 charge now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck to 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 fee is there what are they really providing 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 need to pay their costs now the excellent thing about though when you’ve converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent using that part of their website won’t definitely restrict you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Tracker.
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