Not actually having the full amount of capital…Michael J. Saylor Bitcoin Holding… so with anything that you’re finding out about please do study the platform do not simply assume because 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 consider that option too so you actually get utilized to the structure of the website and after that when you’re ready to use 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 business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something because that individual has actually said they have actually made profit 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you and that being stated let’s dive straight in [Music] so the important 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 most likely.
famous for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included truly vital you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost websites then may not charge you for really buying and selling funds or etfs individual commodities private stocks.
there’ll be charges on other parts perhaps 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 reveal you the costs with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges actually essential to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission charges are complimentary however there are a couple of other charges the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
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 money so you sell your shares you sell your products 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 of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state fine that’s rather expensive 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 options that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they actually giving 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 state give me us dollars instead you have to pay their charges now the terrific feature of though when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent utilizing that part of their website will not definitely limit you in any way nevertheless we need to know 2 other charges the first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael J. Saylor Bitcoin Holding.
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