Not really having the total of capital…Michael Saylor Keynote Bitcoin… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying 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 danger and we have to bear that in mind do not just do something because that person has stated they have actually made revenue 14 months in a row purchase these options since you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for instance 10 of their 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 charges included truly important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 charge sites then might not charge you for actually buying and selling funds or etfs private products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 prior to you actually start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really crucial to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling fine so commission fees are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can certainly put cash in now if you’re 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 on but when you want to withdraw your money so you offer your shares you offer your products 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 obviously understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those choices that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a cost to remember the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and two free trade anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they really giving you in regards to 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 instead you need to pay their charges now the fantastic aspect of however when you’ve transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great using that part of their site will not certainly restrict you in any way however we need to understand two other fees the very first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Keynote Bitcoin.
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