Not really having the full amount of capital…Michael Saylor Bitcoin Target… so with anything that you’re finding out about please do study the platform don’t just assume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that option too 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something since that person has stated they have actually made profit 14 months in a row invest in these choices because you think is the right ones for you and that being said let’s dive directly 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 element that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t normally 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 money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies 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 costs involved truly critical you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge websites then may not charge you for in fact buying and selling funds or etfs specific 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 kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly important to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling all right so commission charges are totally free however there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put cash in now if you remain 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 on however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require 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 costs somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you know depends completely how you’re investing but that is a fee to keep in mind the second fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase 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 perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two free trade anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving 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 provide me us dollars rather you need to pay their fees now the terrific thing about however when you have actually transformed your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates 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 additional costs so that’s actually great using that part of their site will not certainly limit you in any way however we need to understand two other charges the very first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Michael Saylor Bitcoin Target.
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