Not really having the full amount of capital…Michael Saylor Bitcoin Cnn… so with anything that you’re learning about please do study the platform do not simply assume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row purchase these choices due to the fact that you believe is the best 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 becomes part of social trading which is one aspect that is most likely.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests 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 likewise cover is the costs included actually important you understand what are the costs of this now with any platform there will be some cost to certainly 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 some of the no fee sites then may not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
there’ll be charges on other parts perhaps 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 understand before you really begin investing in copy trading or copy portfolios and finally some best advice finest 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 important to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling alright so commission fees are totally free however there are a number of other costs the first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you offer your shares you sell 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 obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms clearly 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 once every 6 months you know depends completely how you’re investing however that is a charge to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they really offering you in terms of 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 provide me us dollars instead you have to pay their fees now the terrific thing about however when you’ve converted your money 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 indicates 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 extra costs so that’s actually excellent using that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other charges the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Cnn.
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