Not actually having the total of capital…Michael Saylor Bitcoin Youtube… so with anything that you’re finding out about please do study the platform don’t just assume since 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 too so you actually 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 of course your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually stated they have actually made earnings 14 months in a row purchase these choices due to the fact that you think is the ideal ones for you and that being said let’s dive straight in [Music] so 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 element that is probably.
popular for it’s the alternative to see what other traders are doing incredible 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 indicates with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of options and generally each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for instance 10 of their financial investment portfolio remains 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 really important you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no charge websites then may not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be fees 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 fees with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs truly essential to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling fine so commission charges are free nevertheless there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s immediately 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 offer 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 five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms undoubtedly are totally 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 6 months you know depends totally how you’re investing however that is a charge to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind 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 providing 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 state provide me us dollars rather you have to pay their charges now the great feature of though when you’ve converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great using that part of their website won’t certainly restrict you in any way however we need to know two other charges the very first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Bitcoin Youtube.
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