Not in fact having the full amount of capital…Michael Saylor Microstrategy Twitter… so with anything that you’re finding out about please do study the platform don’t just presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you actually get utilized to the structure of the site and then when you’re ready to use 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 genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something because that individual has stated they’ve made profit 14 months in a row purchase these options since you think is the best ones for you which being said let’s dive straight in [Music] 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 element that is probably.
famous for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually state i want to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for instance 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 also cover is the costs included really crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no cost websites then may not charge you for in fact buying and selling etfs or funds specific products individual stocks.
there’ll be charges 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 reveal you the costs with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with charges truly essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission costs are free however there are a couple of other charges the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum amount 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 absolutely need to now you may say all right that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply one of those options that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends completely how you’re investing however that is a cost to remember the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars only 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 buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they in fact providing 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 say offer me us dollars rather you need to pay their fees now the great feature of though when you have actually transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies 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 good using that part of their website will not definitely limit you in any way however we need to know 2 other charges the first being what’s called spread fees 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 Microstrategy Twitter.
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