Not actually having the full amount of capital…Michael Saylor Update… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that 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 option too 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 obviously your capital is at threat this is investing we’re doing you’re investing in 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 danger and we need to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the right ones for you and that 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 aspect that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable we do not generally 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 money we can really say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for instance 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 costs included actually critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no cost websites then might not charge you for actually buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 prior to you really begin investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with fees actually crucial to understand these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling all right so commission charges are complimentary however there are a number of other fees the first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state okay that’s rather 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 simply one of those choices that they have a lot of platforms obviously 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 six months you understand depends entirely how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering you in terms of 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 instead you need to pay their fees now the great feature of however when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their site won’t definitely limit you in any way however we need to understand two other charges the very first being what’s called spread fees alright and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Update.
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