Not actually having the full amount of capital…Michael Saylor Wife… so with anything that you’re learning more about please do study the platform don’t simply presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something since that person has actually said they have actually made profit 14 months in a row invest in these choices due to the fact that you think is the ideal 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 aspect that is probably.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included actually important you understand what are the costs of this now with any platform there will be some cost to certainly 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 a few of the absolutely no cost websites then may not charge you for in fact buying and selling funds or etfs private products private 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 sort 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 know prior to you actually begin purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with fees really important to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling all right so commission fees are complimentary however there are a couple of other charges the very first one is withdrawal costs so you can certainly put money 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 later on however when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say okay that’s rather expensive 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 certainly 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 when every 6 months you understand depends entirely how you’re investing however that is a charge to remember the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that matches me.
a great deal 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 anybody so if you’re utilizing trading two and 2 open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to utilize 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 bargain with them you can’t go to the bank and say provide me us dollars rather you need to pay their charges now the great feature of though when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies 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 fees so that’s truly good utilizing that part of their website will not certainly limit you in any way however we need to be aware of 2 other fees the very first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Michael Saylor Wife.
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