Not really having the total of capital…Michael Saylor Fund… so with anything that you’re discovering please do study the platform do not just presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this specific video we’re talking about 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 because that person has actually stated they have actually made revenue 14 months in a row invest in these options since you believe is the right ones for you and that 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 aspect that is probably.
famous for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really 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 money 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 likewise cover is the fees involved truly vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real 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 no fee websites then may not charge you for really buying and selling etfs or funds individual products specific 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 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 understand before you really begin investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly essential to comprehend these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission charges are totally free however there are a number of other fees the very first one is withdrawal fees 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 later however when you wish to withdraw your cash so you offer your shares you offer 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 understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state all right 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 somewhere and withdrawal charges are just among those options that they have a lot of platforms obviously are totally free 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 know depends totally how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two open market anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 state offer me us dollars instead you need to pay their fees now the terrific thing about however when you’ve converted your money 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 purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their site will not certainly restrict you in any way however we have to understand two other costs the very first being what’s called spread fees okay and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Fund.
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