Not actually having the full amount of capital…Michael Saylor Twitter… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you actually get utilized 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 naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that person has said they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the ideal ones for you which 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 incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved truly important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee sites then may not charge you for really buying and selling funds or etfs private products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 before you actually start buying copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other fees the very first one is withdrawal costs 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 in the future but when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those choices that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you understand depends completely how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they really giving you in regards to 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 say give me us dollars rather you have to pay their fees now the excellent aspect of however when you have actually transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent using that part of their website will not certainly limit you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Twitter.
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