Not really having the total of capital…Michael Saylor Yacht… so with anything that you’re learning about please do study the platform do not just assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you in fact get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually said they have actually made revenue 14 months in a row purchase these options since you believe is the ideal ones for you which being said let’s dive directly 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.
popular for it’s the option to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your money 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 included truly important 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 buying the selling for you there’s going to be charges involved and even some of the no cost websites then might not charge you for in fact buying and selling etfs or funds specific products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 understand before you really start buying copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with charges really important to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling okay so commission fees are totally free however there are a couple of other charges the first one is withdrawal fees so you can certainly put money 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 later but when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those options 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 once every six months you know depends entirely how you’re investing but that is a fee to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits 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 fee now when you use anybody so if you’re using trading two and 2 free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact giving 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 give me us dollars instead you need to pay their fees now the excellent thing about though when you’ve transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 extra fees so that’s really excellent utilizing that part of their website won’t definitely restrict you in any way however we need to know two other charges the first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Michael Saylor Yacht.
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