Not really having the full amount of capital…Michael Saylor Keynote… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you in fact get used to the structure of the site 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 risk this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they have actually made profit 14 months in a row invest in these options since you believe is the ideal ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of options and generally each 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 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 charges involved truly critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no cost websites then might not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be costs on other parts perhaps 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 really begin purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really essential to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling alright so commission fees are free however there are a number of other charges the first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you sell 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say all right that’s rather expensive 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 choices that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing but that is a cost to remember the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact giving 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 need to pay their costs now the terrific thing about however when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies 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 excellent utilizing that part of their website will not certainly limit you in any way however we need to understand two other charges the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Michael Saylor Keynote.
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