Not actually having the full amount of capital…Michael Saylor Youtube… so with anything that you’re learning about please do study the platform do not simply presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you in fact get utilized to the structure of the site 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 risk this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just 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 ideal ones for you and that being said let’s dive directly in [Music] so the important 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 probably.
popular for it’s the option to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies 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 charges involved really important you comprehend what are the expenses 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 included and even some of the no cost sites then may not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be fees 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 actually start purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees actually important to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling alright so commission fees are complimentary nevertheless there are a couple of other costs the very first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering 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 knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those choices 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 know depends entirely how you’re investing however that is a charge to bear in mind the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact 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 say provide me us dollars rather you have to pay their fees now the terrific aspect of though when you’ve 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 indicates the initial day that you buy or convert 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 website will not certainly limit you in any way however we have to know two other costs the first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Michael Saylor Youtube.
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