Not actually having the total of capital…Michael Saylor On Bitcoin Crash… so with anything that you’re learning about please do study the platform do not just assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that alternative also so you in fact get used 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 naturally your capital is at risk this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something because that individual has said they’ve made revenue 14 months in a row invest in these options because you think is the best ones for you which being said let’s dive straight in [Music] The 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 amazing we don’t generally 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 precise portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included really critical you comprehend 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 no fee websites then might not charge you for really buying and selling funds or etfs private products individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 know before you in fact start investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with fees actually important to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling okay so commission costs are complimentary however there are a couple of other costs the first one is withdrawal charges so you can undoubtedly put cash in now if you remain in the uk we put our uk cash.
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 money so you offer your shares you offer your products whatever you’re offering 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 certain that i’m just withdrawing when i absolutely require to now you might say okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just one of those options that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you know depends totally how you’re investing but that is a cost to remember the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually 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 say give me us dollars instead you have to pay their fees now the fantastic thing about though when you have actually converted your money you do not have to invest it right away that dollar worth 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 takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good utilizing that part of their website will not definitely restrict you in any way however we need to be aware of 2 other fees the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Michael Saylor On Bitcoin Crash.
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