Not actually having the total of capital…Michael Saylor Bitcoin Purchase Price… so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you in fact get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row buy these choices because you believe is the ideal ones for you and that being said let’s dive directly 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 becomes part of social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their 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 really important you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real 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 no charge websites then may not charge you for really buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 know before you really begin purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly essential to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling okay so commission charges are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you sell 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just among those options that they have a lot of platforms certainly are totally free 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 once every 6 months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent 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 two free trade anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort 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 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 say give me us dollars instead you have to pay their fees now the great feature of however when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great using that part of their website won’t definitely limit you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Purchase Price.
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