Not actually having the full amount of capital…Michael Saylor Course… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you really get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually stated they’ve made earnings 14 months in a row invest in these options due to the fact that you believe is the best ones for you and that being said let’s dive straight 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 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 amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can really say i want to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved truly important you comprehend what are the costs of this now with any platform there will be some expense 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 websites then might not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 really start purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually essential to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission charges are complimentary however there are a number of other charges the first one is withdrawal fees so you can certainly put money in now if you remain 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 later but when you wish to withdraw your money so you offer your shares you sell 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 of course understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a cost to bear in mind the second charge that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they in fact 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 provide me us dollars instead you have to pay their charges now the fantastic feature of however when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their site won’t definitely restrict you in any way nevertheless we have to know 2 other costs the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Michael Saylor Course.
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