Not really having the total of capital…Michael Saylor Yacht Usher… so with anything that you’re learning about please do study the platform do not just presume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually get utilized to the structure of the site 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 risk this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that individual has stated they’ve made earnings 14 months in a row invest in these options because you believe is the best ones for you which being said let’s dive straight 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 choice to see what other traders are doing incredible we don’t usually 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 money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for example 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 likewise cover is the charges involved truly important you comprehend what are the costs of this now with any platform there will be some cost to obviously 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 a few of the no charge websites then might not charge you for actually buying and selling etfs or funds specific products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing 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 costs 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 best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges really crucial to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you sell 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 obviously knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state okay that’s rather 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 just among those alternatives that they have a great deal of platforms obviously are 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 however that is a cost to keep in mind the second fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they really providing 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 rather you need to pay their costs now the excellent aspect of however when you’ve converted your money 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 convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their website will not definitely limit you in any way however we need to know 2 other charges the very first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Michael Saylor Yacht Usher.
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