Not really having the total of capital…Michael Saylor Prediction… so with anything that you’re finding out about please do study the platform don’t just presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you actually get utilized to the structure of the site and after that when you’re ready to use your own cash 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 investing in genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row invest in these choices since you believe is the best ones for you and that 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 becomes part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates 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 likewise cover is the charges involved really vital you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 a few of the absolutely no charge sites then might not charge you for really buying and selling etfs or funds specific commodities specific 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 costs 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 investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with charges truly important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling all right so commission charges are complimentary however there are a number of other costs the first one is withdrawal costs so you can obviously put cash in now if you remain 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 in the future however when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those alternatives that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a cost to bear in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative 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 even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact offering you in regards to 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 rather you need to pay their charges now the excellent aspect of however when you’ve transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good utilizing that part of their website won’t definitely limit you in any way however we need to be aware of 2 other costs the first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Michael Saylor Prediction.
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