Not in fact having the full amount of capital…Michael Saylor House Miami… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you in fact 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 purchasing genuine business if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row buy these choices due to the fact that you believe is the right 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 understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means 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 essentially whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included really important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost websites then might not charge you for in fact buying and selling funds or etfs individual products private 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 charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with costs really essential to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling alright so commission charges are free nevertheless there are a number of other fees the very first one is withdrawal fees so you can certainly put money 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 on but when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those options that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and two free trade anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they really providing you in regards to 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 provide me us dollars rather you have to pay their charges now the excellent aspect of though when you have actually transformed 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 means the preliminary day that you buy or transform 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 actually great utilizing that part of their website won’t definitely limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread charges fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Michael Saylor House Miami.
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