Not actually having the total of capital…Michael Saylor Bitcoin Target… so with anything that you’re finding out about please do study the platform do not simply presume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that person has said they’ve made revenue 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being said let’s dive straight in [Music] The 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 element that is most likely.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy 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 money in so we’re going to likewise cover is the costs involved really crucial you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for actually buying and selling funds or etfs individual commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you in fact begin investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with fees truly essential to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling all right so commission costs are complimentary nevertheless there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you offer your products 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 of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 provide me us dollars instead you have to pay their fees now the terrific thing about though when you have actually transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent using that part of their website will not definitely limit you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread fees 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 Target.
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