Not actually having the total of capital…Michael Saylor On Bitcoin Youtube… so with anything that you’re learning more about please do study the platform do not simply presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you in fact get used to the structure of the site 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 danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row invest in these choices since you believe 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing incredible we do not 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 in fact say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost sites then may not charge you for actually buying and selling funds or etfs private 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 reveal you the charges with in particular in this video the next would be things to know prior to you actually start investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees truly essential to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling all right so commission charges are free nevertheless there are a couple of other costs the first one is withdrawal costs so you can certainly 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 in the future however when you want to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a charge to remember the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever fee 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 charge exists 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 offer me us dollars instead you have to pay their costs now the great feature of however when you have actually converted your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 actually great using that part of their website won’t definitely limit you in any way however we have to be aware of 2 other costs the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Michael Saylor On Bitcoin Youtube.
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