Not in fact having the total of capital…Michael Saylor On Bitcoin Energy Consumption… so with anything that you’re discovering please do study the platform do not simply assume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that choice too so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that person has said they’ve made profit 14 months in a row invest in these choices since you think is the best 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 most likely.
famous for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your money will be mimicked 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 also cover is the charges included truly critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for actually buying and selling funds or etfs individual commodities private stocks.
there’ll be charges 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 costs with in particular in this video the next would be things to know prior to you in fact begin investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really essential to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling okay so commission fees are totally free nevertheless there are a number of other fees the first one is withdrawal fees so you can undoubtedly put cash in now if you remain 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 however when you want to withdraw your cash so you offer your shares you offer 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a lot of platforms certainly are complimentary 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 as soon as every six months you know depends entirely how you’re investing but that is a cost to bear in mind the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase 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 purchasing or perhaps some crypto so i’m excellent 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 two free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact offering 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 instead you have to pay their fees now the great aspect of however when you’ve transformed your money you do not have 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 preliminary 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 extra fees so that’s really great using that part of their website won’t definitely restrict you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Michael Saylor On Bitcoin Energy Consumption.
You are given lots of options with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this may be precisely what you require.