Not in fact having the total of capital…Michael Saylor Tweets… so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money 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 business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they have actually made earnings 14 months in a row purchase these options because you think is the ideal 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 comprehending 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 choice to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero fee websites then might not charge you for really buying and selling funds or etfs private products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 really start buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with fees truly essential to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling all right so commission costs are free however there are a number of other fees the very first one is withdrawal charges so you can obviously put money in now if you’re 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 wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity 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 absolutely require to now you might say alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends entirely how you’re investing however that is a fee to remember the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have i expect stuck with whatever charge they charge for that conversion rate you type of need 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 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 need to pay their costs now the terrific thing about though when you have actually converted 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 implies the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent utilizing that part of their site won’t definitely limit you in any way however we need to know 2 other fees the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Tweets.
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