Not really having the total of capital…Michael Saylor Bitcoin Standard Podcast… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that 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 consider that choice also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row invest in these choices since you think is the right 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 element that is probably.
famous 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 benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked 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 cash in so we’re going to also cover is the fees involved really vital you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost sites then may not charge you for actually buying and selling funds or etfs individual products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly crucial to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission charges are totally free however there are a number of other charges the first one is withdrawal fees so you can obviously put cash 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 later but when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you may state alright that’s rather costly 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 one of those options that they have a great deal 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 as soon as every six months you know depends completely how you’re investing but that is a charge to remember the second cost that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand 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 haggle with them you can’t go to the bank and say offer me us dollars rather you need to pay their costs now the great feature of though when you have actually converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their site won’t certainly limit you in any way however we have to understand two other fees the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Bitcoin Standard Podcast.
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