Not actually having the full amount of capital…Michael Saylor Bitcoin Call… so with anything that you’re finding out about please do study the platform do not simply presume since i use it that you can use 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 really get utilized 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 of course your capital is at threat this is investing we’re doing you’re buying real business if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you and that being stated 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 most likely.
famous for it’s the alternative to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies 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 costs included really critical you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for really buying and selling funds or etfs specific commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 understand before you actually begin investing in copy trading or copy portfolios and lastly some finest advice 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 actually essential to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission fees are free nevertheless there are a number of other costs the first one is withdrawal fees so you can undoubtedly put money in now if you remain 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 in the future but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those options that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends entirely how you’re investing but that is a charge to bear in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just 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 or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really 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 provide me us dollars instead you have to pay their fees now the excellent aspect of though when you’ve converted your money you do not need 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 buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually great utilizing that part of their website will not definitely restrict you in any way however we have to understand two other charges the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Call.
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