Not really having the full amount of capital…Michael Saylor Crypto… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you actually get used to the structure of the site and then 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 investing in genuine business if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something since that individual has actually said they have actually made earnings 14 months in a row invest in these choices since you think is the best ones for you and that being stated 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 belongs to social trading which is one element that is probably.
famous for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of options and generally each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved actually important you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no cost websites then may not charge you for actually buying and selling etfs or funds private products individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with fees truly important to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling all right so commission fees are complimentary however there are a number of other charges the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
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 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 of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may say okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply among those choices that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a fee to remember the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is basic 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 fee is there what are they really providing you in terms of 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 rather you need to pay their fees now the fantastic aspect of however when you have actually transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests 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 additional costs so that’s truly great using that part of their site won’t definitely limit you in any way however we need to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Crypto.
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