Not really having the full amount of capital…Michael Saylor Why Bitcoin… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re discussing how to copy other people’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 since that person has said they have actually made profit 14 months in a row buy these options because you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the important 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 aspect that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates 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 charges included truly vital you comprehend what are the costs of this now with any platform there will be some cost to obviously 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 charge sites then may not charge you for in fact buying and selling etfs or funds private products individual 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 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 prior to you really begin investing in copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees really essential to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling alright so commission costs are totally free however there are a number of other fees the first one is withdrawal costs so you can undoubtedly 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 wish to withdraw your cash so you sell your shares you offer 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 naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those options 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 mainly it can be perhaps even once a year once every 6 months you understand depends completely how you’re investing however that is a cost to keep in mind the 2nd fee that i have actually 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 fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two free trade anybody this is standard they have actually i suppose stuck to whatever fee 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 fee is there what are they actually offering you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain 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 feature of though when you have actually converted your cash 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 means the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their website will not definitely restrict you in any way nevertheless we have to know 2 other charges the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Why Bitcoin.
You are given many alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t understand which system to choose, then this may be exactly what you need.