Not actually having the full amount of capital…Michael Saylor Net Worth Today… so with anything that you’re learning about please do study the platform do not simply presume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative also 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 of course your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row buy these choices due to the fact that you believe is the best ones for you which being stated let’s dive straight in [Music] so the important 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 most likely.
well-known for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates 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 also cover is the charges included truly critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no cost websites then may not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you in fact begin buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with costs actually important to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling alright so commission charges are free however there are a couple of other costs the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state alright 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 fees are simply one of those choices that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever charge 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 charge exists what are they in fact 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 offer me us dollars instead you need to pay their charges now the excellent feature of though when you’ve converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their site won’t definitely restrict you in any way however we need to understand 2 other charges the very first being what’s called spread fees alright and i’m going to show you what i imply on now a spread fee as i’m going to show you Michael Saylor Net Worth Today.
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