Not really having the full amount of capital…Michael Saylor Bitcoin Margin… so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you actually get used to the structure of the site and then 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 investing in real business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the 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 probably.
well-known for it’s the option to see what other traders are doing amazing we don’t 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 cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests if for example 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 also cover is the costs included really critical you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies 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 websites then may not charge you for actually buying and selling etfs or funds private products individual stocks.
there’ll be fees on other parts perhaps 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 reveal you the charges with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees really important to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling okay so commission costs are free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you offer your shares you offer 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state fine that’s quite costly 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 just one of those alternatives that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends completely how you’re investing however that is a cost to remember the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they in fact 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 give me us dollars rather you need to pay their fees now the excellent thing about however when you have actually transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really great utilizing that part of their website won’t certainly restrict you in any way however we have to know 2 other costs the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Margin.
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