Not really having the full amount of capital…Michael Saylor Microstrategy Net Worth… so with anything that you’re finding out about please do study the platform do not just assume 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 cash they consider that choice also so you actually get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that person has said they have actually made earnings 14 months in a row purchase these options since you believe is the ideal ones for you which being said 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’s part of social trading which is one aspect that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests if for example 10 of their 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 actually important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 some of the absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you actually start purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with fees really crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling all right so commission fees are free nevertheless there are a couple of other costs the first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk cash.
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 offer your products whatever you’re selling 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 sure that i’m just withdrawing when i definitely require to now you might say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those choices that they have a great deal of platforms obviously are totally free 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 six months you know depends totally how you’re investing however that is a charge to bear in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually offering 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 provide me us dollars instead you need to pay their costs now the fantastic feature of however when you’ve converted your cash 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 means the preliminary day that you buy or convert 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 actually good using that part of their site will not certainly restrict you in any way nevertheless we have to know two other costs the first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread fee as i’m going to show you Michael Saylor Microstrategy Net Worth.
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