Not in fact having the total of capital…Married Michael Saylor Wife… so with anything that you’re discovering please do study the platform do not just presume since i use it that you can utilize 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 in fact get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they have actually made earnings 14 months in a row invest in these choices due to the fact that 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
popular for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for example 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 costs involved really vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then may not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you really start buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs really important to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling all right so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal costs so you can certainly put cash in now if you’re 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 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 five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state all right 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 somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms obviously are complimentary 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 as soon as every 6 months you understand depends entirely how you’re investing but that is a cost to bear in mind the second fee that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have 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 actually 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 state offer me us dollars instead you need to pay their costs now the fantastic thing about though when you have actually transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies 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 additional charges so that’s actually excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we have to be aware of two other charges the first being what’s called spread fees fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Married Michael Saylor Wife.
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