Not really having the total of capital…Michael Saylor… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that option as well so you in fact get used to the structure of the site and then when you’re ready to utilize 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 real companies if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something because that individual has said they have actually made earnings 14 months in a row invest in these choices since you believe is the ideal ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for instance 10 of their financial 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 fees included actually crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then may not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly crucial to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling fine so commission fees are totally free however there are a couple of other charges the very first one is withdrawal costs so you can clearly put cash in now if you’re 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 on however when you want to withdraw your cash 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those options that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 fee now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they actually offering 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 state provide me us dollars rather you have to pay their charges now the fantastic feature of though when you’ve transformed your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 extra charges so that’s actually excellent using that part of their site won’t definitely restrict you in any way however we have to understand 2 other charges the first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor.
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