Not really having the total of capital…Michael Saylor How Much Bitcoin… so with anything that you’re learning about please do study the platform do not just presume due to the fact that i use 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 really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row purchase these options because you think is the best ones for you and that being stated let’s dive straight 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’s part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing amazing we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included really important you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost sites then might not charge you for really buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts possibly 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 know before you actually start purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with costs really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission costs are complimentary however there are a number of other costs the first one is withdrawal costs 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 later on but when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling 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 only withdrawing when i definitely require to now you may say okay 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 costs are just among those alternatives that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing but that is a cost to keep in mind the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway 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 fee now when you utilize anyone so if you’re using trading two and 2 free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and state provide me us dollars instead you have to pay their costs now the terrific thing about however when you have actually transformed your money you do not have to invest it immediately that dollar value 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand 2 other costs the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Michael Saylor How Much Bitcoin.
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