Not actually having the full amount of capital…Michael Saylor On Bitcoin Crash… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option also so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row invest in these options since you believe is the ideal ones for you which being stated let’s dive directly 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 probably.
famous for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests 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 also cover is the charges included really important you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 a few of the absolutely no charge sites then may not charge you for in fact buying and selling funds or etfs private products private 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 kinds 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 understand before you really start buying copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with fees truly important to understand these now on there’s a couple of charges there isn’t fees to do with actually buying and selling fine so commission charges are free nevertheless there are a couple of other costs the first one is withdrawal costs so you can clearly put cash 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 want to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely require 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 someplace and withdrawal charges are simply one of those options that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends entirely how you’re investing however that is a charge to bear in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 state offer me us dollars rather you have to pay their charges now the terrific feature of however when you have actually converted your cash you do not need to invest it immediately that dollar value 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 occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their website won’t definitely limit you in any way however we have to be aware of 2 other costs the first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor On Bitcoin Crash.
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