Not really having the full amount of capital…Tony Robbins Michael Saylor Bitcoin… so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you really get utilized 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you and that being said let’s dive straight 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 belongs to 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 do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally each 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 financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included truly important you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business 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 absolutely no fee websites then may not charge you for actually buying and selling funds or etfs individual products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 know before you really start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees truly essential to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission fees are free nevertheless there are a number of other charges the first one is withdrawal fees so you can certainly put cash in now if you’re in the uk we put our uk money.
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 sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state all right that’s quite 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 one of those choices that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two open market anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually offering 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 have to pay their charges now the terrific feature of though when you’ve converted your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their website will not definitely restrict you in any way nevertheless we need to understand two other fees the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Tony Robbins Michael Saylor Bitcoin.
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