Not really having the full amount of capital…Michael Saylor Kimdir… so with anything that you’re learning more about please do study the platform don’t simply assume because i use 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 too so you really get used 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 risk this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row invest in these choices since you believe is the right ones for you and that being said let’s dive straight in [Music] so 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.
famous for it’s the option to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage 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 specific portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your cash 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 money in so we’re going to also cover is the costs included truly important you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee sites then may not charge you for really buying and selling funds or etfs specific products specific 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 kinds 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 know before you in fact begin purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually essential to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a number of other charges 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 wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you may say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends completely how you’re investing however that is a cost to bear in mind the second charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps 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 free trade anyone at all this is standard they have actually i expect stuck with whatever fee 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 cost 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 provide me us dollars rather you have to pay their fees now the terrific thing about however when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means 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 extra costs so that’s truly excellent utilizing that part of their website will not definitely limit you in any way however we have to know 2 other costs the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Kimdir.
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