Not actually having the total of capital…Michael Saylor Zitate… so with anything that you’re finding out about please do study the platform don’t just presume 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 money they consider that alternative also so you really get utilized to the structure of the website and after that 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 threat this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re speaking about how to copy other individuals’s financial 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 person has said they have actually made profit 14 months in a row purchase these options since you believe is the ideal 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 comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved truly vital you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine business 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 commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 know prior to you in fact begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with fees actually crucial to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling all right so commission costs are free however there are a number of other charges the very first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash 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 obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just one of those options that they have a lot of platforms undoubtedly are totally free 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 once every six months you understand depends completely how you’re investing however that is a charge to remember the second cost that i have actually 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 which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists 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 haggle with them you can’t go to the bank and state offer me us dollars instead you have to pay their fees now the excellent aspect of though when you have actually converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase 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 site won’t definitely restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Zitate.
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