Not actually having the total of capital…Michael Saylor Politics… so with anything that you’re finding out about please do study the platform don’t simply assume because 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 money they give that option also so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously 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 people’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they have actually made revenue 14 months in a row purchase these choices due to the fact that you think is the right ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing amazing we don’t usually 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 exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for instance 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 costs involved actually vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee websites then might not charge you for really buying and selling etfs or funds private 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 type 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 understand prior to you really start purchasing copy trading or copy portfolios and lastly some finest recommendations 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 costs really important to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling alright so commission fees are complimentary nevertheless there are a couple of other costs the very first one is withdrawal charges so you can undoubtedly put cash in now if you remain 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 later on but when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those choices that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a charge to bear in mind the second charge 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 which’s great that matches 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 great 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 free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they really 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 state offer me us dollars instead you have to pay their fees now the terrific thing about though when you’ve converted your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great using that part of their site will not definitely restrict you in any way however we need to know 2 other costs the first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread fee as i’m going to show you Michael Saylor Politics.
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