Not really having the total of capital…Michael Saylor Bitcoin Fund… so with anything that you’re discovering please do study the platform don’t simply assume since i utilize 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 also so you in fact get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something since that person has stated they have actually made profit 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the alternative to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they buy they offer whatever they do your money will be imitated 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 cash in so we’re going to also cover is the charges included actually crucial you comprehend what are the costs of this now with any platform there will be some cost to obviously 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 absolutely no fee sites then might not charge you for actually buying and selling funds or etfs individual products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 know before you in fact begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling fine so commission charges are complimentary however there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash 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 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those choices that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing however that is a cost to keep in mind the second charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize 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 provide me us dollars instead you need to pay their fees now the excellent thing about though when you’ve transformed your money you do not have to invest it right away that dollar value 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 actually great using that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of 2 other costs the very first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Fund.
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