Not actually having the total of capital…Michael Saylor Net Worth Bitcoin… so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that person has actually stated they have actually made revenue 14 months in a row invest in these options since you believe is the ideal ones for you and that being stated let’s dive directly 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 probably.
well-known for it’s the choice to see what other traders are doing unbelievable 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 implies with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that suggests 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 important you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge sites then may not charge you for really buying and selling funds or etfs specific products specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you really start investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with fees truly crucial to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission costs are complimentary nevertheless there are a number of other costs the first one is withdrawal fees so you can certainly put cash 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 later however when you want to withdraw your cash so you sell your shares you sell your commodities 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 knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know depends entirely how you’re investing however that is a fee to bear in mind the 2nd fee that i have actually touched upon is that conversion cost 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 fits 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 good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they really 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 say offer me us dollars instead you have to pay their fees now the fantastic thing about though when you’ve converted your cash 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 means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their website won’t certainly restrict you in any way however we have to understand two other charges the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Net Worth Bitcoin.
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