Not actually having the full amount of capital…Michael Saylor Got Liquidated… so with anything that you’re learning more about please do study the platform don’t just assume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you actually get used to the structure of the site and after that 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 risk this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something since that person has stated they have actually made revenue 14 months in a row buy these options because you think is the right ones for you which 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 most likely.
famous for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i want to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that implies if for instance 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 critical you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost sites then may not charge you for in fact buying and selling etfs or funds private products specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing 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 know prior to you actually start investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges really important to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling okay so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s immediately 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 amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among 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 largely it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually offering 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 have to pay their costs now the fantastic aspect of however when you have actually converted your money you do not need to invest it right away that dollar value can being 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great utilizing that part of their site won’t definitely limit you in any way however we have to understand 2 other charges the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Michael Saylor Got Liquidated.
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