Not really having the total of capital…Michael Saylor Bitcoin Mining… so with anything that you’re finding out about please do study the platform do not just presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you really get used 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 obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually said they’ve made revenue 14 months in a row buy these options because you believe is the best ones for you which being stated let’s dive directly 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.
famous for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests if for example 10 of their financial 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 truly critical you comprehend 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 buying the selling for you there’s going to be charges involved and even some of the no fee sites then might not charge you for really 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 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 actually start purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually crucial to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission charges are totally free however there are a couple of other charges the very first one is withdrawal charges 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 wish to withdraw your money so you offer your shares you sell your commodities 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 understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those choices that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends completely how you’re investing however that is a fee to bear in mind the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that suits 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 good 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 basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact offering 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 instead you need to pay their charges now the terrific aspect of though when you’ve converted your cash you do not need 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great utilizing that part of their site will not certainly restrict you in any way nevertheless we have to be aware of two other fees the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Bitcoin Mining.
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