Not actually having the total of capital…Michael Saylor Investments… so with anything that you’re learning about please do study the platform don’t just assume because 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 alternative too so you actually get used to the structure of the site and then when you’re ready to utilize your own cash 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 companies if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually said they have actually made earnings 14 months in a row buy these options because you believe is the best ones for you and that being said let’s dive straight 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.
well-known for it’s the option 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 therefore that suggests with our money we can actually say i want to do exactly 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 money will be mimicked with it so that suggests if for example 10 of their financial investment portfolio is 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 truly important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then might not charge you for in fact buying and selling funds or etfs individual 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 type of charges 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 actually begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with fees truly important to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling alright so commission fees are complimentary nevertheless there are a number 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 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 cash so you sell 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends totally how you’re investing but that is a charge to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that fits 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 cost now when you use anybody so if you’re using trading 2 and 2 free trade anyone at all this is standard they have i expect stuck to whatever fee 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 cost exists what are they actually giving 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 give me us dollars rather you have to pay their costs now the fantastic aspect of however when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy 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 truly excellent using that part of their website won’t definitely restrict you in any way however we have to be aware of 2 other fees the very first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Investments.
You are provided lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this might be precisely what you need.