Not really having the full amount of capital…Michael Saylor Crypto… so with anything that you’re learning about please do study the platform don’t simply 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 alternative too so you really get used to the structure of the website and then when you’re ready to utilize your own money 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 real companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they’ve made profit 14 months in a row invest in these options because you believe is the best ones for you and that being stated let’s dive directly in [Music] The 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 aspect that is probably.
popular for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for example 10 of their investment portfolio remains 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 really vital you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no fee sites then might not charge you for really buying and selling funds or etfs specific products private stocks.
there’ll be costs on other parts perhaps 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 reveal you the charges with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees really important to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling alright so commission fees are complimentary however there are a number of other costs the first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say okay that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those choices that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you understand depends entirely how you’re investing however that is a fee to keep in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great 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 anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they really offering you in terms of 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 rather you need to pay their costs now the fantastic feature of however when you’ve transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 truly great using that part of their website will not certainly limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Crypto.
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