Not actually having the total of capital…Michael Saylor Got Liquidated… so with anything that you’re finding out about please do study the platform do not simply presume 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 cash they consider that alternative also so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something because that person has stated they have actually made profit 14 months in a row invest in these choices because you believe is the best ones for you and that being said let’s dive directly 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.
popular for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved actually crucial you understand what are the expenses 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 some of the no fee websites then may not charge you for in fact buying and selling funds or etfs individual commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 know prior to you really start investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with costs actually essential to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission costs are totally free however there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly 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 in the future however when you want to withdraw your money so you sell your shares you offer your commodities 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those options that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a cost to bear in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps 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 utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they really giving you in terms of 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 give me us dollars instead you need to pay their costs now the terrific thing about though when you have actually transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary 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 actually good utilizing that part of their site will not certainly limit you in any way however we need to be aware of two other charges the very first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Michael Saylor Got Liquidated.
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