Not actually having the full amount of capital…Michael Saylor Bitcoin Wiki… so with anything that you’re learning more about please do study the platform do not just assume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you actually get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that individual has stated they’ve made revenue 14 months in a row invest in these choices since you think is the ideal ones for you and that being stated 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 element that is most likely.
well-known for it’s the alternative to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for instance 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 costs included actually vital you understand what are the costs of this now with any platform there will be some expense to obviously 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 no fee sites then might not charge you for actually buying and selling funds or etfs individual products 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 type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and lastly some best 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 charges actually crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling alright so commission fees are totally free nevertheless there are a number of other costs the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum amount 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 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 costs someplace and withdrawal costs are just 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 mostly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a fee 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 a choice to purchase 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 or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really providing 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 provide me us dollars instead you have to pay their fees now the great aspect of though when you have actually transformed your cash you do not have to invest it immediately that dollar worth 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 extra fees so that’s truly great using that part of their website will not certainly limit you in any way however we need to know 2 other costs the very first being what’s called spread charges alright and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Wiki.
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