Not actually having the total of capital…Michael Saylor Verkauft Bitcoin… so with anything that you’re learning about please do study the platform don’t just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you select to in this specific 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 just do something since that person has actually said they have actually made profit 14 months in a row purchase these choices since you believe is the best ones for you which being stated 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 becomes part of social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that indicates if for instance 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 also cover is the charges involved truly vital 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 purchasing the selling for you there’s going to be charges involved and even some of the no cost sites then may not charge you for in fact buying and selling funds or etfs private products specific 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 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 understand prior to you actually start buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with charges really crucial to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling okay so commission charges are totally free nevertheless there are a couple of other costs the first one is withdrawal fees so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you sell your shares you offer your commodities 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 knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state alright that’s rather expensive 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 alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee 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 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 two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually offering 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 state offer me us dollars rather you have to pay their costs now the fantastic aspect of however when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really great using that part of their website won’t definitely restrict you in any way nevertheless we need to be aware of 2 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 reveal you Michael Saylor Verkauft Bitcoin.
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