Not really having the full amount of capital…Michael Saylor Reddit… so with anything that you’re learning more about please do study the platform do not simply presume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you in fact get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they’ve made revenue 14 months in a row purchase these choices since you think is the ideal ones for you and that being said let’s dive directly 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 lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually 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 buy they sell whatever they do your money will be mimicked with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved actually crucial you understand 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 fee websites then may not charge you for in fact buying and selling funds or etfs private commodities private 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 costs with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with costs really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission costs are complimentary however there are a number of other fees the first one is withdrawal costs so you can clearly put money 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 later but when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling the minimum amount 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 need 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 costs someplace and withdrawal charges are just one of those choices that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends totally how you’re investing however that is a charge to keep in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two free trade anybody this is basic they have actually i expect 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 charge 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 say give me us dollars rather you have to pay their costs now the great aspect of though when you’ve transformed your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their site will not definitely limit you in any way nevertheless we have to know two other charges the very first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Reddit.
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