Not in fact having the total of capital…Michael Saylor Vs Frank Giustra… so with anything that you’re finding out about please do study the platform do not simply assume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you really get used to the structure of the website and then when you’re ready to utilize your own cash 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 buying real business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row buy these choices due to the fact that you believe is the right ones for you and that being stated let’s dive straight in [Music] so 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.
popular for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually say i want to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they buy they offer whatever they do your money 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 cash in so we’re going to likewise cover is the costs involved truly vital you understand 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 included and even a few of the absolutely no fee websites then may not charge you for actually buying and selling funds or etfs private products specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you in fact begin investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with fees truly crucial to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling all right so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal fees so you can obviously put cash 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 offer your shares you sell your products whatever you’re selling the minimum amount 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 only withdrawing when i definitely require to now you may say alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those choices that they have a lot of platforms obviously are totally 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 once every six months you understand depends totally how you’re investing however that is a charge to keep in mind the second fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and state offer me us dollars rather you have to pay their costs now the terrific thing about however when you’ve converted your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we have to be aware of two other costs the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Michael Saylor Vs Frank Giustra.
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