Not actually having the total of capital…Michael Saylor Linkedin… so with anything that you’re finding out about please do study the platform do not simply presume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you really get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something since that individual has said they’ve made revenue 14 months in a row purchase these options because you believe is the best ones for you and that being stated 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.
popular for it’s the choice 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 indicates with our money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included really critical you understand what are the costs of this now with any platform there will be some expense to obviously these are real 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 zero fee websites then may not charge you for actually buying and selling funds or etfs individual products individual stocks.
there’ll be charges on other parts possibly 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 show you the costs with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with charges really essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission charges are complimentary however there are a number of other charges the first one is withdrawal costs so you can certainly put money in now if you remain 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 however when you wish to withdraw your cash so you offer your shares you offer your products 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 certain that i’m only withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a lot of platforms certainly are free 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 as soon as every six months you understand depends totally how you’re investing but that is a fee to bear in mind the second cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine 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 great 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 free trade anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact providing 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 say provide me us dollars rather you have to pay their charges now the fantastic thing about however when you’ve converted your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their website will not certainly limit you in any way nevertheless we have to know two other fees the very first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Linkedin.
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