Not really having the total of capital…Michael Saylor Company… so with anything that you’re finding out about please do study the platform don’t simply assume because 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 give that alternative also so you actually get used to the structure of the site and after that when you’re ready to use your own money 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 pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something because that individual has actually said they have actually made earnings 14 months in a row invest in these options because you think is the ideal ones for you and that being stated let’s dive straight in [Music] 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.
popular for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually state i want to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they offer whatever they do your cash will be mimicked 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 cash in so we’re going to also cover is the costs included actually important you understand 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 purchasing the selling for you there’s going to be charges involved and even some of the no cost websites then may not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be fees on other parts maybe 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 know prior to you in fact start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with fees really essential to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission fees are free nevertheless there are a number of other charges the first one is withdrawal costs so you can clearly put money in now if you’re 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 but when you want to withdraw your money so you sell your shares you sell your commodities 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state alright 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 fees are simply one of those options that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you know depends totally how you’re investing however that is a charge to remember the 2nd charge that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even 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 anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually offering 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 state offer me us dollars rather you have to pay their charges now the great thing about however when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their website won’t definitely limit you in any way nevertheless we have to know 2 other charges the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Company.
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