Not in fact having the full amount of capital…What Is Michael Saylor Net Worth… so with anything that you’re learning more about please do study the platform do not simply assume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you actually 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 naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they’ve made profit 14 months in a row invest in these options because you believe is the right ones for you which being said let’s dive straight 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 aspect that is probably.
popular for it’s the alternative to see what other traders are doing incredible we don’t usually 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 money we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that means if for example 10 of their 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 actually critical you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no fee websites then might not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 in fact start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with costs truly crucial to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling alright so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state fine that’s rather pricey 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 obviously are totally free 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 as soon as every six months you know depends completely how you’re investing however that is a fee to remember the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that suits 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 anybody so if you’re using trading two and two open market anybody 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 utilize their platform go from uk to us then that conversion charge is there what are they actually giving 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 say give me us dollars instead you need to pay their charges now the great thing about though when you’ve converted your cash you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies 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 additional charges so that’s really excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we have to know two other charges the very first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you What Is Michael Saylor Net Worth.
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