Not in fact having the full amount of capital…Michael Saylor Bitcoin Introduction… so with anything that you’re discovering please do study the platform don’t just 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 give that choice also so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row purchase these options because you think is the right ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing incredible 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 means with our cash we can really state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that means if for example 10 of their financial 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 involved truly important you comprehend 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 no fee sites then may not charge you for in fact buying and selling funds or etfs individual products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 in fact begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly crucial to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling okay so commission charges are free nevertheless there are a number of other costs the very first one is withdrawal charges so you can certainly put cash in now if you’re 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 later on however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of 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 entirely how you’re investing but that is a cost to remember the second fee that i have actually touched upon is that conversion cost 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 great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they really providing you in terms of 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 give me us dollars instead you have to pay their fees now the great aspect of though when you have actually transformed your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 extra costs so that’s actually excellent utilizing that part of their site will not certainly restrict you in any way however we need to be aware of two other charges the very first being what’s called spread fees alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Introduction.
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