Not actually having the full amount of capital…Michael J. Saylor Bitcoin… so with anything that you’re learning more about please do study the platform do not simply assume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative too so you really get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has actually stated they’ve made earnings 14 months in a row invest in these options because you believe is the right ones for you which being said let’s dive straight 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 element that is probably.
famous for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and basically every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for example 10 of their financial investment portfolio remains 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 actually important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 zero charge sites then may not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 prior to you in fact start buying copy trading or copy portfolios and lastly some finest 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 costs actually essential to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling all right so commission charges are free however there are a number of other costs the very first one is withdrawal charges so you can clearly put money 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 cash 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 five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those options that they have a lot of platforms certainly 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 once every six months you understand depends totally how you’re investing but that is a fee to remember the second charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative 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 and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anybody this is basic they have i expect 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 exists what are they in fact providing 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 offer me us dollars instead you have to pay their fees now the great feature of though when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial 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 costs so that’s truly great using that part of their site will not definitely restrict you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Michael J. Saylor Bitcoin.
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