Not in fact having the full amount of capital…Michael Saylor Laser Eyes… so with anything that you’re learning more about please do study the platform do not just presume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row invest in these choices since you think is the ideal ones for you which 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 becomes part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can really say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means 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 likewise cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some expense 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 absolutely no fee websites then might not charge you for really buying and selling etfs or funds individual commodities specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 know prior to you actually start investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs really crucial to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission costs are free however there are a number of other fees the first one is withdrawal costs so you can obviously put cash 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 cash so you sell your shares you sell your commodities 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 knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you may say fine that’s quite pricey 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 among those options that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing however that is a fee to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy 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 buying or even some crypto so i’m great 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 two open market anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they actually giving 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 say give me us dollars instead you have to pay their fees now the terrific aspect of however when you’ve transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great utilizing that part of their website won’t certainly limit you in any way nevertheless we need to understand 2 other costs the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Michael Saylor Laser Eyes.
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