Not actually having the full amount of capital…Michael Saylor Advice… so with anything that you’re learning about please do study the platform don’t just presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you actually get used to the structure of the site and after that when you’re ready to utilize your own money 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 choose to in this particular video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made profit 14 months in a row buy these choices since you believe is the right ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really say i wish to do exactly what that trader is doing or match that specific portfolio of options and basically each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really vital you understand 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 a few of the zero charge sites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 before you actually begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling okay so commission costs are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can clearly put cash in now if you’re 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 later but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum amount 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 ensure that i’m just withdrawing when i definitely require to now you may state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply one of those options that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends completely how you’re investing but that is a cost to keep in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i expect stuck to whatever charge 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 charge is there what are they actually offering 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 say give me us dollars instead you need to pay their charges now the excellent aspect of though when you have actually converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 additional charges so that’s actually good using that part of their site will not definitely limit you in any way however we need to know 2 other charges the first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Michael Saylor Advice.
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