Not actually having the full amount of capital…Michael Saylor Sec… so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative also so you actually get used 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 naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they’ve made earnings 14 months in a row buy these options because you think is the right ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending 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 don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies 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 involved really critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 some of the zero fee websites then might not charge you for really buying and selling funds or etfs individual products private stocks.
there’ll be fees on other parts maybe 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 charges with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with charges really crucial to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling okay so commission fees are complimentary however there are a number of other costs the very first one is withdrawal fees so you can undoubtedly 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 but when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you may state okay 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 fees are simply one of those options that they have a great deal of platforms undoubtedly are complimentary 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 6 months you know depends entirely how you’re investing but that is a cost to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway 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 cost now when you use anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they really providing you in regards to 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 give me us dollars rather you have to pay their charges now the great aspect of though when you’ve transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that means the preliminary 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 costs so that’s actually excellent utilizing that part of their website will not certainly restrict you in any way however we need to understand two other charges the first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Sec.
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