Not actually having the total of capital…Michael Saylor Bitcoin Education… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you really get utilized to the structure of the website 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 investing in real business if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they’ve made earnings 14 months in a row purchase these choices because you believe is the best ones for you which being stated let’s dive directly in [Music] so 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 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 suggests with our cash we can actually say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for instance 10 of their financial 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 charges involved actually critical you understand what are the costs of this now with any platform there will be some cost to clearly 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 no fee sites then may not charge you for really buying and selling funds or etfs individual products specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 before you actually begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with costs really crucial to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling alright so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal fees so you can clearly put money 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 in the future but when you wish to withdraw your money so you offer your shares you offer your commodities 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 just withdrawing when i definitely need to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those options that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends completely how you’re investing however that is a cost to bear in mind the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a great deal 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 charge now when you utilize anybody so if you’re using trading two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact giving you in terms of 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 provide me us dollars instead you have to pay their charges now the excellent feature of however when you’ve transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert 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 site will not definitely limit you in any way however we need to understand 2 other charges the very first being what’s called spread fees alright and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Education.
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