Not in fact having the total of capital…Pastor Michael Saylor Twitter… so with anything that you’re discovering please do study the platform don’t simply assume because 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 consider that option as well so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they’ve made profit 14 months in a row purchase these options because 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’s part of social trading which is one aspect that is probably.
famous for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i want to do precisely what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates 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 costs included really important you understand what are the expenses of this now with any platform there will be some cost to certainly 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 a few of the no cost sites then might not charge you for actually buying and selling etfs or funds individual products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 know before you really begin buying copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with charges actually important to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling all right so commission charges are totally free however there are a number of other costs the first one is withdrawal costs so you can obviously put cash 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 sell your shares you offer 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends completely how you’re investing but that is a charge to keep in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even 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 utilizing trading 2 and two open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually providing 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 offer me us dollars instead you have to pay their fees now the great thing about though when you’ve transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase 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 actually excellent using that part of their site will not certainly limit you in any way however we have to know two other charges the very first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Pastor Michael Saylor Twitter.
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