Not in fact having the full amount of capital…Michael Saylor Bitcoin Resources… so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that option also 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 of course your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row buy these choices since you believe is the right ones for you and that being said let’s dive directly 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’s part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for example 10 of their 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 truly critical you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then might not charge you for really buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 investing in copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges actually important to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling fine so commission fees are complimentary nevertheless there are a number of other charges the very first one is withdrawal fees so you can certainly 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 however when you want to withdraw your money so you offer your shares you sell 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing but that is a charge to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two open market anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact giving 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 say offer me us dollars instead you have to pay their charges now the terrific aspect of though when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that means 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 additional costs so that’s really excellent using that part of their website will not definitely restrict you in any way however we have to be aware of 2 other costs the very first being what’s called spread charges all right and i’m going to show you what i imply on now a spread charge as i’m going to show you Michael Saylor Bitcoin Resources.
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