Not actually having the full amount of capital…Michael Saylor Reddit… so with anything that you’re finding out about please do study the platform don’t just assume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you actually get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has stated they’ve made profit 14 months in a row buy these choices because you think is the ideal ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 charge websites then might not charge you for really buying and selling etfs or funds individual commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges really essential to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission charges are complimentary however there are a number of other costs the very first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply among those choices that they have a lot of platforms certainly are totally free to do such things has this 5 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 completely how you’re investing however that is a fee to remember the 2nd 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 and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway 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 cost now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and state offer me us dollars instead 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 value can sit in your portfolio as money 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 additional charges so that’s truly good using that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of 2 other charges the very first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Michael Saylor Reddit.
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