Not really having the full amount of capital…Michael Saylor Dogecoin… so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something since that person has said they have actually made profit 14 months in a row invest in these options since you think is the right 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 becomes part of social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved actually important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies 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 funds or etfs specific commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the charges 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 thinking of this as a tool whether you start your journey or your advanced investor so let’s start with charges truly important to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling okay so commission fees are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum amount 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 ensure that i’m only withdrawing when i definitely require to now you may state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those choices that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends totally how you’re investing however that is a cost to remember the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice 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 buying or even some crypto so i’m good 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 two open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they really 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 provide me us dollars rather you have to pay their fees now the terrific aspect of however when you have actually transformed your cash you do not have to invest it right now that dollar worth can being 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 additional costs so that’s truly good using that part of their website won’t definitely limit you in any way nevertheless we have to be aware of 2 other fees the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Dogecoin.
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