Not really having the total of capital…Michael Saylor Ross Stevens Bitcoin… so with anything that you’re learning more about please do study the platform do not just assume because 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 give that option as well so you actually get utilized 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 risk this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually said they’ve made profit 14 months in a row invest in these options since you believe is the best ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really critical you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero charge sites then might not charge you for in fact buying and selling funds or etfs individual products 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 sort of charges 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 understand before you actually start buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs truly important to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling okay so commission fees are complimentary however there are a number of other costs the very first one is withdrawal charges so you can clearly put money in now if you’re 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 later on 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 five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those choices that they have a great deal of platforms certainly are totally 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 know depends entirely how you’re investing but that is a charge to keep in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is standard 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 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 bargain with them you can’t go to the bank and state offer me us dollars rather you need to pay their charges now the great aspect of though when you’ve transformed your money you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent using that part of their site won’t definitely restrict you in any way nevertheless we need to be aware of 2 other charges the first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Ross Stevens Bitcoin.
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