Not actually having the total of capital…Michael Saylor Net Worth 2020… so with anything that you’re learning more about please do study the platform don’t just presume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize 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 business if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually said they’ve made revenue 14 months in a row invest in these options due to the fact that you believe is the best 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 probably.
famous for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved actually critical you comprehend what are the expenses of this now with any platform there will be some expense to obviously 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 some of the zero cost sites then may not charge you for really buying and selling etfs or funds private commodities private stocks.
there’ll be fees on other parts possibly 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 understand before you in fact begin buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with fees truly crucial to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling all right so commission fees are free nevertheless there are a couple of other charges the first one is withdrawal charges so you can obviously put cash in now if you remain 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 but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those options that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a charge to keep in mind the second fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever cost 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 exists what are they really offering 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 state give me us dollars rather you need to pay their charges now the great thing about though when you have actually converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase 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 truly good using that part of their website will not definitely restrict you in any way however we have to understand 2 other costs the very first being what’s called spread charges all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Michael Saylor Net Worth 2020.
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