Not really having the full amount of capital…Michael Saylor And Wife… so with anything that you’re discovering please do study the platform do not just presume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you actually get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row purchase these options since you believe 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’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 incredible we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for instance 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 fees involved actually critical you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real companies 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 websites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 understand before you really start purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling fine so commission fees are totally free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can obviously put cash 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 in the future but when you want to withdraw your money 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just one of those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends totally how you’re investing however that is a charge to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine 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 fee now when you use anyone so if you’re utilizing trading 2 and two free trade anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 say give me us dollars instead you have to pay their fees now the terrific thing about however when you’ve transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform 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 excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we have to know two other fees the first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Michael Saylor And Wife.
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