Not in fact having the total of capital…Michael Saylor First Bitcoin… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also 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 obviously your capital is at risk this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that person has actually stated they’ve made profit 14 months in a row invest in these choices because you believe is the right ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
well-known for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish 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 sell whatever they do your cash will be simulated with it so that indicates if for instance 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 charges involved actually vital you understand what are the costs of this now with any platform there will be some cost to certainly these are real 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 websites then might not charge you for in fact buying and selling etfs or funds individual products specific 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 show you the fees with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and finally some best guidance finest 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 charges really crucial to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling all right so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can certainly put cash 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 but when you wish to withdraw your cash 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 make certain that i’m just withdrawing when i definitely need to now you might state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just one of those alternatives that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a charge to bear 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 option to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they really giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say offer me us dollars rather you need to pay their fees now the fantastic feature of though when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the preliminary 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 additional fees so that’s actually good using that part of their site won’t definitely limit you in any way however we have to be aware of 2 other charges the first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor First Bitcoin.
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