Not really having the full amount of capital…Michael Saylor Quanti Bitcoin Ha… so with anything that you’re discovering please do study the platform do not just assume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you really get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they have actually made earnings 14 months in a row invest in these choices since you believe is the right ones for you which being said let’s dive straight 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 element that is most likely.
well-known for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved actually crucial you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine 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 no fee websites then might not charge you for actually buying and selling funds or etfs private products private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you in fact begin purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling fine so commission fees are complimentary nevertheless there are a number of other charges the first one is withdrawal fees so you can obviously put money in now if you remain 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 but when you want to withdraw your cash so you sell your shares you sell your products whatever you’re offering 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 knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those options that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars only 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 anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they really giving 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 fees now the great feature of though when you’ve transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent using that part of their site won’t definitely restrict you in any way however we have to be aware of 2 other charges the very first being what’s called spread costs 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 Quanti Bitcoin Ha.
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