Not actually having the full amount of capital…Michael Saylor Laser Eyes… so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you actually get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something because that person has actually said they have actually made revenue 14 months in a row invest in these options since you believe is the best ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved really crucial you comprehend what are the costs of this now with any platform there will be some cost 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 a few of the zero charge sites then might not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you really start buying copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs truly important to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission charges are complimentary however there are a number of other charges the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk money.
and it’s automatically 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 sell your shares you offer 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 of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state alright that’s quite 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 choices that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
a great deal 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 charge now when you utilize anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually providing you in regards to 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 say give me us dollars instead you have to pay their costs now the great feature of though when you have actually converted your cash 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 suggests 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 extra charges so that’s really good utilizing that part of their site will not definitely limit you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Laser Eyes.
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