Not actually having the full amount of capital…Michael Saylor Vs Peter Schiff… so with anything that you’re discovering please do study the platform don’t simply presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you in fact get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk 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 clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually said they have actually made profit 14 months in a row invest in these choices due to the fact that you believe is the right ones for you which being stated let’s dive straight 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 most likely.
famous for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that implies if for example 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 also cover is the charges involved actually important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge sites then might not charge you for really buying and selling funds or etfs private commodities private stocks.
there’ll be fees on other parts perhaps 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 reveal you the fees with in particular in this video the next would be things to understand prior to you actually begin purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with costs actually important to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling all right so commission charges are free however there are a number of other costs the first one is withdrawal costs so you can certainly put cash 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 in the future however when you wish to withdraw your money so you offer your shares you offer your commodities 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a great deal of platforms undoubtedly 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 when every 6 months you understand depends entirely how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway 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 charge now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they really offering 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 need to pay their charges now the excellent feature of however when you have actually converted your cash you do not need to invest it right away 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 purchase 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 really great utilizing that part of their site won’t definitely limit you in any way nevertheless we need to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to show you what i imply on now a spread fee as i’m going to show you Michael Saylor Vs Peter Schiff.
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