Not actually having the full amount of capital…Michael Saylor Bitcoin Resources… so with anything that you’re discovering please do study the platform don’t simply assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you really get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not just do something since that person has actually stated they’ve made earnings 14 months in a row buy these options because you think is the best ones for you which being said let’s dive straight 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 most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t 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 cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved really important you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no cost sites then may not charge you for really buying and selling funds or etfs specific products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 in fact start purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs actually important to understand these now on there’s a couple 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 costs so you can certainly put money 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 but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those options that they have a great deal of platforms clearly are 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 six months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that matches 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 excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two free trade anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually providing you in terms of 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 state offer me us dollars instead you need to pay their fees now the great thing about though when you’ve transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests 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 charges so that’s really good using that part of their website won’t certainly limit you in any way nevertheless we have to understand two other costs the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Resources.
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