Not really having the full amount of capital…Michael Saylor Education… so with anything that you’re finding out about please do study the platform do not simply presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you in fact 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 obviously your capital is at threat this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because 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 right ones for you and that being said let’s dive directly 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 element that is probably.
popular for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests if for example 10 of their financial 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 charges included truly critical you understand what are the costs of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge sites then may not charge you for really buying and selling etfs or funds specific products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 before you in fact begin investing in copy trading or copy portfolios and finally some best 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 costs truly crucial to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can obviously put money in now if you’re 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 on however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a fee to remember the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that suits 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 charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they really giving 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 rather you need to pay their fees now the great thing about however when you’ve converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial 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 fees so that’s truly good utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread costs fine and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Education.
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