Not in fact having the total of capital…Michael Saylor Linkedin… so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you really 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 obviously your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has stated they’ve made revenue 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you which being stated 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.
well-known for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your money will be imitated with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved really crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee websites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with costs really essential to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling okay so commission costs are totally free nevertheless there are a number of other fees the very first one is withdrawal fees so you can obviously 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 however when you want to withdraw your money so you offer 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 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say alright that’s rather 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 just one of those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a cost to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there 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 bargain with them you can’t go to the bank and state provide me us dollars instead you have to pay their charges now the fantastic thing about though when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or convert 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 good using that part of their website will not definitely restrict you in any way however we have to know 2 other charges the first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Linkedin.
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