Not actually having the full amount of capital…Michael Saylor Real Time Net Worth… so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get utilized to the structure of the site and after that when you’re ready to use 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 buying real companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial 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 person has stated they have actually made earnings 14 months in a row buy these choices because you think is the right ones for you which being said let’s dive directly 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 belongs to social trading which is one aspect that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that suggests if for instance 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 likewise cover is the fees involved truly important you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine 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 cost sites then may not charge you for actually 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 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 know prior to you really start purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees really essential to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling alright so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal costs so you can obviously put cash in now if you remain 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 later however when you want to withdraw your cash so you sell your shares you sell 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those alternatives that they have a lot of platforms clearly are free 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 when every six months you know depends completely how you’re investing however that is a charge to remember the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two free trade anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you know 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 rather you need to pay their charges now the great aspect of though when you’ve transformed your money you do not have to invest it right now 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 convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their website won’t certainly restrict you in any way however we have to be aware of 2 other fees the very first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Michael Saylor Real Time Net Worth.
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