Not really having the total of capital…Michael Saylor Bitcoin Twitter… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you actually get utilized to the structure of the site 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 buying genuine companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has stated they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the right ones for you which being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved actually critical you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine companies 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 zero fee sites then may not charge you for really buying and selling etfs or funds individual commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact start investing in copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs really crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with really buying and selling all right so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal fees so you can obviously put money 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 however when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those choices that they have a great deal of platforms obviously are complimentary 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 as soon as every six months you understand depends completely how you’re investing but that is a charge to keep in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really offering 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 state give me us dollars rather you need to pay their costs now the terrific aspect of however when you’ve converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies 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 truly great utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to understand two other costs the first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Twitter.
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