Not actually having the full amount of capital…Michael Saylor Twitter Down… so with anything that you’re learning more about please do study the platform don’t just assume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you in fact get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that individual has stated they have actually made profit 14 months in a row buy these choices because you believe is the right ones for you which being said let’s dive directly in [Music] The 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.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t normally 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 actually state i want to do exactly what that trader is doing or match that exact portfolio of options and essentially 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 charges involved truly vital you understand what are the expenses of this now with any platform there will be some expense to certainly 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 cost websites then might not charge you for actually buying and selling etfs or funds private products specific 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 type of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission charges are free however there are a couple of other fees the first one is withdrawal fees so you can undoubtedly 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 later but when you want to withdraw your money so you offer your shares you sell your commodities 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 make sure that i’m just withdrawing when i definitely require to now you may state all right that’s quite pricey and i get that however 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 options that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a cost to remember the 2nd cost that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and state provide me us dollars rather you have to pay their fees now the great feature of though when you have actually transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great using that part of their site will not certainly limit you in any way however we have to be aware of 2 other charges the first being what’s called spread charges 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 Twitter Down.
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