Not in fact having the full amount of capital…Michael Saylor On Bitcoin Drop… so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that choice too so you really 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 choose to in this particular video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually stated they’ve made earnings 14 months in a row buy these choices because you think is the ideal ones for you which being said let’s dive straight in [Music] 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 element that is probably.
well-known for it’s the choice to see what other traders are doing incredible we don’t usually 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 money we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your money will be simulated with it so that means if for instance 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 likewise cover is the fees included actually critical you understand what are the costs of this now with any platform there will be some cost to obviously 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 zero fee sites then may not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly crucial to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a couple of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you’re 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 but when you want to withdraw your money so you offer 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those options that they have a great deal of platforms obviously are complimentary 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 as soon as every six months you understand depends entirely how you’re investing however that is a charge to keep in mind the 2nd cost that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they in fact providing you in regards to 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 give me us dollars instead you need to pay their fees now the great thing about though when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy 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 really great utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to know two other charges the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread charge as i’m going to show you Michael Saylor On Bitcoin Drop.
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