Not actually having the total of capital…Michael Saylor First Bitcoin… so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you really get utilized to the structure of the site 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 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 individuals’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that individual has said they’ve made earnings 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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 alternative to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their 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 fees included really crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business 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 cost sites then may not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with fees truly essential to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other charges the first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell 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 of course knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a great deal of platforms clearly 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 when every 6 months you know depends entirely how you’re investing but that is a cost to keep in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two open market anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there 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 provide me us dollars instead you need to pay their costs now the fantastic thing about however when you have actually transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really good using that part of their website will not definitely limit you in any way nevertheless we have to know two other charges the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread fee as i’m going to show you Michael Saylor First Bitcoin.
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