Not really having the full amount of capital…Michael Saylor Microstrategy Stock… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that 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 give that option as well so you in fact get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row purchase these choices because you believe is the best 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 belongs to social trading which is one aspect that is probably.
popular for it’s the alternative to see what other traders are doing incredible 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 implies with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved truly critical you understand what are the costs of this now with any platform there will be some expense to clearly 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 no charge websites then may not charge you for really buying and selling etfs or funds private commodities specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 start investing in copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges actually important to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission fees are totally free nevertheless there are a number of other fees the first one is withdrawal costs so you can undoubtedly put cash 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 however when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum amount 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 ensure that i’m only withdrawing when i definitely need to now you may say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those options that they have a great deal of platforms undoubtedly 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 completely how you’re investing but that is a charge to remember the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only 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 or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really giving 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 offer me us dollars instead you need to pay their fees now the excellent thing about however when you’ve converted your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really great using that part of their site will not definitely restrict you in any way however we need to be aware of 2 other fees the very first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor Microstrategy Stock.
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