Not in fact having the total of capital…Michael Saylor Jordan Peterson… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash 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 companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they have actually made revenue 14 months in a row invest in these choices because you believe is the ideal ones for you and that 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 belongs to social trading which is one aspect that is probably.
popular for it’s the option to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for instance 10 of their investment portfolio remains 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 really important you comprehend what are the expenses of this now with any platform there will be some expense to certainly 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 a few of the no charge websites then might not charge you for in fact buying and selling funds or etfs specific products specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 know before you really start buying copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission costs are complimentary nevertheless there are a number of other costs the first one is withdrawal costs so you can certainly put money in now if you’re 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 however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a great deal of platforms clearly are 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 when every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway 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 charge now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact offering 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 state provide me us dollars rather you need to pay their charges now the great aspect of however when you have actually converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 costs so that’s really good utilizing that part of their site won’t certainly restrict you in any way however we need to understand 2 other costs the first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Jordan Peterson.
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