Not actually having the full amount of capital…Michael Saylor Bitcoin Elon Musk… 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 now do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you really get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for instance 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 fees involved actually critical 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 a few of the no cost sites then might not charge you for actually buying and selling funds or etfs private commodities specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with fees really essential to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling all right so commission costs are complimentary however there are a couple of other costs the very first one is withdrawal charges so you can certainly 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 but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re offering 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 absolutely need to now you may state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that matches 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 excellent 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 two free trade anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact offering you in regards to 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 give me us dollars rather you need to pay their charges now the fantastic feature of however when you have actually converted your cash you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 charges so that’s really great using that part of their website will not certainly limit you in any way however we have to understand two other fees the very first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Michael Saylor Bitcoin Elon Musk.
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