Not actually having the full amount of capital…Michael Saylor Bitcoin Strategy… so with anything that you’re learning about please do study the platform do not just presume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually said they’ve made revenue 14 months in a row purchase these options since you believe is the best ones for you which being stated 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’s part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for instance 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 also cover is the charges involved truly important you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee websites then may not charge you for really buying and selling etfs or funds individual commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with charges actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling all right so commission costs are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can obviously put cash in now if you remain 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 offer your shares you sell your commodities 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 of course understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you may state okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those options that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a fee to remember the 2nd fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow 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 use anyone so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really giving you in regards to 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 offer me us dollars instead you need to pay their costs now the fantastic feature of however when you’ve converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their website will not certainly limit you in any way however we have to understand two other charges the first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Strategy.
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