Not really having the total of capital…Michael Saylor Tracker… so with anything that you’re discovering please do study the platform do not just presume because 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 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 cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not simply do something because that individual has stated they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the best ones for you and that being stated let’s dive straight 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 most likely.
well-known for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they buy they offer whatever they do your cash 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 also cover is the charges involved truly critical you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for actually buying and selling funds or etfs specific commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 in fact start purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees really crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with really buying and selling okay so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can certainly 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 in the future but when you want to withdraw your cash so you offer your shares you offer 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 of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those alternatives that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends totally how you’re investing but that is a fee to remember the second charge that i’ve touched upon 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 fits 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 excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use 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 haggle with them you can’t go to the bank and say provide me us dollars instead you have to pay their charges now the great thing about however when you’ve transformed your money you do not need to invest it right now 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 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 really good using that part of their website will not certainly limit you in any way however we need to be aware of two other costs the first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Tracker.
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