Not in fact having the total of capital…Michael Saylor Twitter Bitfarm… so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative 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 obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has actually stated they’ve made earnings 14 months in a row purchase these choices since you believe is the right 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 understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies 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 also cover is the fees included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges really crucial to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling alright so commission costs are free however there are a number of other costs the first one is withdrawal charges so you can clearly put money 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 however when you want to withdraw your cash so you offer 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 knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just 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 mostly it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing however that is a fee to remember 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 which’s fine that suits 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 utilize anyone so if you’re using trading 2 and two open market anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really providing 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 offer me us dollars instead you need to pay their charges now the fantastic feature of though when you’ve converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the initial 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 costs so that’s actually good using that part of their website won’t certainly limit you in any way however we need to understand 2 other charges the first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Twitter Bitfarm.
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