Not really having the total of capital…Michael Saylor Bitcoin Summit… so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you actually get utilized to the structure of the website and then 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 threat this is investing we’re doing you’re buying real companies if you select to in this specific video we’re speaking about how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the right ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
famous for it’s the option to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that means if for example 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 certainly these are genuine companies 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 cost websites then might not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you actually begin purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with costs actually important to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling alright so commission charges are totally free nevertheless there are a number of other charges the first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you sell your shares you offer your commodities 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state fine 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 costs are just one of those alternatives that they have a great deal of platforms obviously are complimentary 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 when every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice 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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually 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 say provide me us dollars rather you need to pay their fees now the great aspect of however when you’ve transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good utilizing that part of their website will not definitely limit you in any way however we have to understand 2 other charges the first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Michael Saylor Bitcoin Summit.
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