Not really having the total of capital…Michael Saylor Memes… so with anything that you’re discovering please do study the platform do not simply assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you in fact get used to the structure of the site and then when you’re ready to use 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 investing in genuine companies if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something because that person has stated they’ve made revenue 14 months in a row purchase these options since you think is the right ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be simulated 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 also cover is the fees involved really crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero fee sites then may not charge you for really buying and selling funds or etfs private products private stocks.
there’ll be fees on other parts maybe 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 show you the charges with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with charges actually crucial to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission charges are complimentary nevertheless there are a couple of other charges the very first one is withdrawal charges so you can clearly 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 on but when you wish to withdraw your cash so you offer 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply 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 perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a charge to remember the second charge that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using 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 have 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 really 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 say give me us dollars rather you need to pay their fees now the terrific aspect of however when you’ve converted your money you do not need to invest it immediately 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 purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their site won’t certainly restrict you in any way however we need to know 2 other costs the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Memes.
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