Not actually having the full amount of capital…Michael Saylor Degree… so with anything that you’re learning about please do study the platform do not simply presume 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 money 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 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 business if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something since that person has actually stated they’ve made revenue 14 months in a row purchase these choices because you believe is the ideal ones for you which being stated 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.
well-known for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of options and basically each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for example 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 also cover is the charges included really important you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for in fact buying and selling etfs or funds private commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 in fact begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with fees really essential to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling alright so commission costs are complimentary however there are a number of other costs the very first one is withdrawal costs so you can obviously put money 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 cash so you offer your shares you offer your commodities 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 of course knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those options that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing but that is a charge to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying 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 open market anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they actually providing 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 offer me us dollars rather you need to pay their fees now the fantastic thing about however when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Michael Saylor Degree.
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