Not really having the total of capital…Michael Saylor Book… so with anything that you’re discovering please do study the platform do not simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you really get utilized to the structure of the website and after that 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 business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row invest in these options since you think is the best ones for you which being said let’s dive directly in [Music] so 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 element that is probably.
popular for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash 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 money in so we’re going to also cover is the charges involved truly crucial 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 individual products 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 type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you in fact begin investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission costs are totally free nevertheless there are a number of other charges the first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you sell 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 make certain that i’m just withdrawing when i absolutely require to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those options that they have a great deal of platforms obviously 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 six months you understand depends completely how you’re investing however that is a charge to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 free trade anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually providing 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 state give me us dollars instead you have to pay their fees now the fantastic thing about though when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies 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 charges so that’s actually great using that part of their website will not definitely limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Book.
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